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Croatian Bank Governor in Dubrovnik Croatian Bank Governor in Dubrovnik CNB

Croatia prepares further for the introduction of the Euro

By  Jun 15, 2019

The Dubrovnik Economic Conference, a traditional international meeting with representatives of numerous international financial institutions, is being held in Dubrovnik this weekend for the 25th time, and is organized by the Croatian National Bank (CNB).

Boris Vujčić, the Governor of the Croatian National Bank (CNB), recalled the first year of war-time conferences and added that over time the congress has become a significant venue in the world.

“During the last 25 years some of the largest names of economic theory and in the area of economic policy management have been involved in this congress,” said Governor Vujcic. The theme of this year’s conference is economic policy formation at the time of populism. Also a presentation on how Croatia is a good candidate for the introduction of the euro as the official currency.

On this occasion, Boris Vujcic, announced the letter of intent to enter for Croatia to enter into the European Exchange Rate Mechanism.

“Before close cooperation with the European Central Bank in the conduct of supervision of credit institutions, it is necessary to test the assets of Croatian banks. We expect this test, as far as the Croatian banks are concerned, to pass very well. As I always point out – the liquidity of Croatian banks is such that it leaves no doubt that it is a quality and stable system” added the CNB Governor.

Over the last quarter of a century the Dubrovnik Conference has become a traditional venue for meetings and dialogues of prominent world and domestic experts with representatives of numerous international financial institutions such as the International Monetary Fund, the World Bank, the European Central Bank, the European Investment Bank, the European Bank for Reconstruction and Development, etc. The conference also includes economists from other institutions and representatives of financial activities.

The central topics of this year's conference will be works and discussions devoted to the losses of international trade, gravity - the link between elasticity, distance and trade, migration, i.e. the effects of financial globalization, economic populism, foreign currency and currency mismatch conversions, independence of central banks in the implementation of monetary policy.