19:30 / 28.10.2021.

Author: Nikola Badovinac

European Bank Coordination meets in Split

Central Bank Governor Boris Vujčić

Central Bank Governor Boris Vujčić

Foto: Miroslav Lelas / Pixsell

A two-day conference on economic trends in central, eastern, and southeastern Europe, organized by the European Bank Coordination "Vienna" Initiative and the Croatian National Bank, got underway in Split on Thursday. 

The stated aim of the initiative, which was launched back in 2009 following the global economic crisis, is to safeguard the financial stability of emerging economies in Europe.

Opening this annual conference, the Croatian National Bank Governor and Chairman of the Vienna Initiative Steering Committee, Boris Vujčić, said that the availability of bank lending was currently much better than in 2019, before the start of the COVID-19 pandemic.

Of course, during the lockdown of economies there was no need for taking funds, as economic activity was suspended, but the price of the money today is more favorable, the governor said in his opening speech.

Asked whether he feared inflation, Vujčić said that he could now, perhaps, be more afraid of inflation than other citizens, however, inflation was not currently an important issue.

He elaborated that this year's 2.3% inflation rate should not be a cause for concern.

Mark Bowman, vice president of the European Bank for Reconstruction and Development (EBRD), said the EBRD was proud of its role as a founder and partner in the Initiative.

"We are committed to promoting financial stability in the region and working with partners and commercial banks," said Bowman. 

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