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IMF Official Thinks Slovenia Can Solve Its Problems

Washington, 17 April (STA) - Jorg Decressin, senior advisor in the IMF's research department, told the press in Washington on Tuesday that Slovenia's problems could be fixed easier than in some other eurozone countries because the country has a relatively low debt-to-GDP ratio. But the problems of the banking sector must be tackled immediately.

Although the latest IMF's World Economic Outlook changed the planned contraction of Slovenia's GDP for this year from 0.5% to 2%, Decressin warned at yesterday's IMF press conference that Slovenia's problems were not a reason for alarm because of the country's relatively low deficit and debt.

Slovenia's public debt accounts for about 55% of GDP or less while the figure is at 80-90% in some other eurozone countries, he said, answering a journalist question about Slovenia.

According to the IMF official, the problems that Slovenia has with the banking system could be solved with the state support through recapitalisation and restructuring.

The country will then move forward, but it is important that these measures are carried out quickly and efficiently, he said.

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