Mečiar denies that crown will be devalued

Economic ministers of the Slovak government met at Trenčianske Teplice on August 24 to discuss the future development of the economy, Národná obroda reported on August 26. Prime Minister Vladimír Mečiar told a press conference after the meeting that fears about a possible devaluation of the Slovak crown are speculative and unjustified. "On the contrary, the hard currency reserves of the National Bank have grown by $200 million recently, so there is no reason for devaluation," Mečiar said.