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Central Bank Chief Reiterates that Reduction of Inflation is Main Goal

Portoro┼ż, 5 April - Slovenia will lose its monetary sovereignty upon the adoption of the common European currency, Governor of the Bank of Slovenia Mitja Gaspari told participants of the annual conference of managers that kicked off on Thursday and is to conclude today. Gaspari reminded that the transition to the common currency would be coupled with the transfer of some 170 million euros of foreign reserves from the Slovene central bank to the European Central Bank (ECB). According to the central bank chief, Slovenia can expect to join the European Monetary Union by 2008, if it becomes an EU member in 2004 as is generally anticipated. He also reminded that currently the most important goal of the Bank of Slovenia is the reduction of inflation.

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