IMF Staff Country Reports

This paper on Republic of Croatia focuses on representative rate for the Euro. The Council of the European Union decided on July 12, 2022 that the Republic of Croatia had fulfilled the necessary conditions for adoption of the euro with effect from January 1, 2023, and that the conversion rate should be set at 7.53450 Croatian kuna per one euro. The Croatian authorities notified the IMF on October 5, 2022, that the euro will be their country’s currency, effective from January 1, 2023. After consultations with the Croatian authorities, it is proposed that the approach used to determine the representative exchange rate for the other euro area members to be similarly extended to the Republic of Croatia.