CBBH Governor Senad Softić, Ph.D., attended the Annual Meeting of the IMF and the WB

Governor of the Central Bank of Bosnia and Herzegovina (CBBH), Senad Softić, Ph.D., has led the delegation of Bosnia and Herzegovina to the Annual Meeting of the International Monetary Fund (IMF) and the World Bank (WB), which is held from October 10 to 16, 2022 in Washington. There have been discussed the outlooks of the world economy and the current economic situation in the light of the current geopolitical situation, the energy crisis, disruptions in supply chains and movements in the world financial markets.

During his stay in Washington, bilateral meetings were held with senior officials of the IMF, the Deputy Director General of the IMF, Bo Lee, and the Director of the European Department of the IMF, Alfred Kammer. The economic situation in Bosnia and Herzegovina was discussed, and it was emphasized that the key challenges for Bosnia and Herzegovina, as well as for all countries, are inflation and continuous energy supply.

On this occasion, the Governor pointed out that we have been living in a very uncertain economic environment, and that the currency board has served us well for all 25 years. We will continue to rely on it in the future in order to contribute to macroeconomic stability in Bosnia and Herzegovina. During the crisis caused by the pandemic, but also by current geopolitical developments, the CBBH undertook legally defined measures and activities maintaining monetary stability.

He informed the IMF officials about the temporary measures taken in the banking sector, the primary goals of which are to avoid a significant increase in interest rates in BH, that is, to protect the users of financial services, the stability of the banking system, and to achieve macroeconomic balance.

The Governor invited the IMF to continue cooperation and thanked for their support so far to Bosnia and Herzegovina and to the Central Bank of Bosnia and Herzegovina.