International reserves of the Republic of Croatia

Published: 9/9/2015 Modified: 28/8/2020
The international reserves of the Republic of Croatia are managed by the Croatian National Bank. The Council of the Croatian National Bank formulates the strategy and policy for international reserves management.

According to the definition of the International Monetary Fund, a country's international reserves refer to "...those external assets that are readily available to and controlled by monetary authorities for direct financing of payments imbalances, for indirectly regulating the magnitudes of such imbalances through intervention in exchange markets to affect the currency exchange rate, and/or for other purposes". International reserves may include foreign means of payment in cash, foreign currency deposits with banks, foreign securities, gold and special drawing rights of the International Monetary Fund.

The international reserves of the Republic of Croatia are managed by the Croatian National Bank. The Council of the Croatian National Bank formulates the strategy and policy for international reserves management.

In accordance with Article 18 of the Act on the Croatian National Bank, the international reserves of the Republic of Croatia comprise all types of foreign exchange assets and precious metals. The term foreign exchange assets includes securities and all other assets in the convertible currency of a non-resident debtor or in the unit of account, in whatever form held.