The launching of democracy in that country is very welcome and we stand ready to cooperate fully with Yugoslavia as it seeks to recover from years of conflict. In fact, a mission has already gone to Belgrade to collect basic information, review issues related to membership in the Fund, and discuss policy intentions and technical assistance needs. Although we are still awaiting the formation of a federal government, we expect our involvement to deepen over the next few weeks and for the Federal Republic of Yugoslavia to become a member soon. We can now hope and expect that the reestablishment of Yugoslavia's links with the international community will be a significant boost to the region more generally. The transition has yielded some notable successes.
Some countries are quite close to convergence with the advanced economies.
Others still face a long journey. The international community, and the IMF itself, should be ready to provide support wherever it is needed. In today's world, all countries face the same challenge-how to continually adapt their economies to the demands of an increasingly globalized world economy to the benefit of all their citizens.