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WASHINGTON -- The International Monetary Fund has approved $263 million in loans for the Slovak Republic to help the country stabilize and reform its shaky economy.
Slovakia has made "important progress" in steadying its economy since becoming independent at the start of 1993 but more needs to be done, especially in the area of reducing the government budget deficit, the IMF said Friday.
Under a reform program supported by the IMF, Slovakia is aiming to restore economic growth next year and reduce inflation to 8 percent from 12 percent in 1994.
IMF Loan to Slovakia
26 July 1994
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