Yugoslav National Bank
Governor Fights for Job'If I stay the dinar will be stable,
but if I go, God help you then.'BELGRADE, May 15 (Reuters) — Yugoslav National Bank governor Dragoslav Avramovic appealed to the government on Wednesday not to fire him and said he wanted to seek deals with West European central banks in support of the dinar. Avramovic told journalists at the federal parliament, which was expected to vote his removal later in the day: "I will continue the battle. I hope they will not replace me."
The socialist government appears determined to sack him after weeks of conflict over the terms of International Monetary Fund (IMF) membership and privatisation and fiscal policy. The IMF dispute has prevented Yugoslavia gaining access to hard currency credits it needs to revive its economy, which is at a virtual standstill despite suspension of U.N. sanctions.
The government on Tuesday accused 78-year-old Avramovic of spurning orders and hinted at dismissal for the man who became a public hero in 1994 when he halted the hyperinflation that swamped Yugoslavia under the sanctions.
Finance Minister Jovan Zebic told parliament: "Government measures are not being implemented. He implements only those which he wants. That is no longer tenable."
About 3,000 workers, angered by a lack of jobs and unpaid wages, demonstrated outside parliament on Tuesday in support of Avramovic when he arrived to defend his attempts to lift the economy out of its post-sanctions stagnation. The governor told reporters on Wednesday he would seek loans from Britain, France and Germany to secure the stability of the dinar.
"If I make a deal with the Bank of England, the Bundesbank and the Banque de France, there will be no threat to the dinar. That will be the first thing I will do, but only if the government lets me." The dinar, which had been stable at 3.3 to the German mark, fell on the black market to 3.45 after parliament began to debate Avramovic's future on Tuesday.
"If I stay the dinar will be stable, but if I go, God help you then," Avramovic said.
Berserkistan, May 14 · Yugolslavia May Sack National Bank Governor
Berserkistan, May 14 · 15,000 Demonstrate in Belgrade and Nis
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