Accessibility links

Croatia: U.S. Wins Delay In IMF Loan Tranche

  • Robert Lyle

Washington, 11 July 1997 (RFE/RL) - The U.S. has again convinced an international financial organization to delay a loan to Croatia.

State Department spokesman Nicholas Burns says the U.S. sought the delay Wednesday on the disbursal of a $40 million drawing from the International Monetary Fund (IMF).

IMF sources say the fund's Board of Executive Directors adjourned a meeting before voting on the second tranche of a three-year Extended Fund facility for Croatia which was approved in March. The IMF board will resume its review later this month, say the sources.

Burns says the U.S. took the position because of Croatia's failure to honor the Dayton Peace accords. Last week, the U.S. won delay of a $30 million World Bank loan to Croatia.

Burns added that the Croatian government is not going to get much support from the United States until it does something concrete to show that it's interested in fulfilling its commitments.