BiH’s PM: Agreement with the World Bank is very active at the Level of 750 Million Dollars

October 19, 2019 2:00 PM

 

 

 

Chairman of the Council of Ministers of Bosnia and Herzegovina Denis Zvizdic attended the annual meeting of the International Monetary Fund (IMF) and the World Bank (WB) in Washington.

The annual meeting is attended by heads of government, finance ministers, bankers, private sector representatives, civil society organizations.

Zvizdic said that the agreement with the World Bank is very active at the level of 750 million Dollars, and which is related to different sectors of the essence for BiH such as the development of small and medium-sized enterprises, strengthening energy efficiency.

“The arrangement with the IMF is in a ‘standby’ phase due to the fact that the beneficiary entities have not made decisions to activate these funds, and they provide us with the essential professional and technical support to implement reforms, strengthen our institutions and staff would create a favorable economic environment for the development of private enterprise, restructuring of the public sector, preserving fiscal and financial stability and transparent spending of budgetary funds,” said Zvizdic.

Speaking about the IMF’s warning that economic growth will slow down globally, Zvizdic said that BiH, in the event of any deviation, will not have great consequences because the country does not have a large-scale economy.

“It is important for us to maintain our capacities and economic relations with the ten key countries we export to and thus create a good environment that will attract foreign investment and encourage job creation,” he said.

The Annual Meetings of the Boards of Governors of the World Bank Group (WBG) and the International Monetary Fund (IMF) bring together central bankers, ministers of finance and development, parliamentarians, private sector executives, representatives from civil society organizations and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness. Also featured are seminars, regional briefings, press conferences, and many other events focused on the global economy, international development, and the world’s financial system. This year’s events will take place in Washington, DC, October 14-20, 2019.

Governor of the Central Bank of BiH Senad Softic was also present at the Annual Meeting.

 

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