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IMF sympathy for central bank

The International Monetary Fund said the Slovak central bank is in a difficult position “with no easy way out”, battling a strong crown caused by “exaggerated views regarding the success of your country”.

The crown has appreciated to record highs against the euro in recent weeks, with the central bank spending 500 million euro in currency reserves and dr5opping interest rates to protect the competitiveness of the Slovak economy.

Compiled by Tom Nicholson from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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