CBBH and IMF cooperate to find better prospects for the future of BH’s economy

The International Monetary Fund (IMF) report “Regional Economic Outlook for Europe”, which includes the latest developments, projections and risks for the future outlook in Europe and BiH, was presented at the premises of the Central Bank of Bosnia -Herzegovina (CBBH) on November 09, 2022.

In the introduction, CBBH Governor Senad Softić emphasized good cooperation with the IMF and readiness to participate in all joint efforts to find better prospects for the future of BH economy.

In order to support the economy and the citizens of Bosnia and Herzegovina, the CBBH, according to its authorities, has taken and will continue to take appropriate measures in accordance with the decisions of the European Central Bank (ECB). It is important to underline the coordinated work of the entities’ bank branches. I believe that commercial banks will contribute through appropriate lending policies, including interest policies and banking service policies,” Governor Softić said.

IMF Resident Representative in Bosnia and Herzegovina, Andrew Jewell, commented on Bosnia and Herzegovina’s economic outlook, stating that “Bosnia and Herzegovina faces significant challenges related to high food and fuel prices and stricter financial conditions. A major challenge for policy makers will be to better target budget support to vulnerable people in order to mitigate the impact of the cost of living crisis while minimizing budgetary pressures. Mr. Jewell also stressed that financial sector stakeholders in Bosnia and Herzegovina need to be prepared for the impact of rising interest rates on borrowers and lenders.

Following the presentation of the report’s findings, Gabriel Di Bella, Deputy Division Chief in the Emerging Economies Unit of the European Department of the IMF, Belma Čolaković, Ph.D., Head of the Office of the Chief Economist of the CBBH , and economic analysts Svetlana Cenić and Faruk Hadžić, among others, participated in the discussion.

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