Skopje, 25 October 1999

Press release of the NBRM

From The meeting of the Governors of Central Banks of the countries successors of former SFRY in Skopje

In the period from October 24 to 25, 1999, the Governor, Mr. Ljube Trpeski hosted the meeting of the Governors of Central Banks of Bosnia and Herzegovina, Slovenia, Croatia and FR Yugoslavia. At the meetings numerous issues of mutual interest were discussed, however emphasizing the relations that the Central Banks have with the international financial institutions. With that respect, the Governors of all five Central Banks have expressed their readiness to continue to be a vehicle in their countries, successors of former SFRY, for further actions in solving the process of succession of the property of former SFRY. By solving the issue of the property of former National Bank of Yugoslavia of SFRY in Basle, the Central Banks would lead that process. In this context, the Governors concluded that the Central Banks of Bosnia and Herzegovina, Slovenia, Croatia and Republic of Macedonia have been offered and some of them have already accepted favorable short-term facility with the Bank for International Settlements (BIS) in Basle, which will be renewed every 6 months. With that respect, the National Bank of FR Yugoslavia was encouraged to follow the same procedure, which would contribute to the final solution of the issue of division of property of former NBY of SFRY in BIS. The next meeting of the Governors will be held in November 1999, in Basle, during the extraordinary Assembly of the Board of Governors of the Bank for International Settlements in Basle.

In addition, the Governors exchanged opinions on the payment operations among these countries, as well as on the solutions to the problems with which economic entities are faced in their day-to-day operations.

Governor’s Office