Spectator on facebook

Spectator on facebook

World Bank may reclassify Slovakia

The World Bank may reclassify Slovakia from an aid recipient into a donor country by the end of this year, the SITA newswire wrote.

The World Bank may reclassify Slovakia from an aid recipient into a donor country by the end of this year, the SITA newswire wrote.

According to a document that the Slovak Finance Ministry submitted for interdepartmental review, successful recent macroeconomic development of the Slovak economy, as well as the expected euro adoption in 2009, was the impulse for the re-evaluation. Successful accomplishment of this process would lead to a classification as a developed economy.

One criterion is the per capita gross national income (GNI), which was $6,275 in 2006 and $7,950 in 2007. Slovakia will be required to pledge not to draw any new loans from the World Bank. Another criterion is sufficient access to the capital markets. The Finance Ministry points out that Slovakia has good access to the capital markets, while from the point of view of interest rates and demand of investors on the international capital market, it is more advantageous for Slovakia to borrow on the capital market and not from the World Bank.

The World Bank requires the countries aspiring for a change of status continue structural and institutional reforms. Finance Minister Ján Počiatek announced to the World Bank Vice-President last October that Slovakia expects to be considered a developed country by September or October 2008.

Of the countries in the former Eastern Bloc, Slovenia was reclassified in 2004, the Czech Republic in 2005, Estonia in 2006, Lithuania in 2006 and Hungary in 2007. SITA

Compiled by Zuzana Vilikovská from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

LGBTI people in the regions: We change people’s minds

Bratislava will dress up in rainbow colours this August again, for the seventh time. This will be for the Bratislava Dúhový Pride diversity festival. But the colours of the rainbow are less bright in the regions,…

Slovakia’s LGBTI community seeks to expand their rights.

Things that make us different also make us stronger

On August 19, a rainbow flag will fly over the US Embassy in Bratislava to represent the firm commitment of the United States to defending the human rights of LGBTI people, writes Ambassador Sterling.

The rainbow flag flew over the US Embassy in Bratislava in 2016.

Blog: 5 things you should do on your visit to the north of Slovakia Photo

Here is a list of tips by an experienced tour guide - including things you have probably not tried before.

Bratislava growing high Photo

High-rise buildings sprouting up in Bratislava

Visualisation of the future skyline of Bratislava