Yugoslavia readies forex law ahead of new IMF deal

YUGOSLAVIA - Yugoslavia said on Wednesday it would fully liberalise the exchange rate regime for its dinar currency and scrap floating ranges to help secure a new three-year loan from the International Monetary Fund (IMF).

The liberalisation is part of a new foreign exchange law, required by the IMF to declare the dinar convertible in all current account transactions and some capital transactions. Belgrade hopes the IMF will approve a new stand-by loan in May. The law will allow the market to

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