Governor Softić attended the Spring session of the IMF and the WB in Washington

Governor of the Central Bank of Bosnia and Herzegovina (CBBH), Senad Softić, Ph.D. was in Washington where, as part of the BH delegation, he attended the Spring Session of the International Monetary Fund (IMF) and the World Bank Group (WB).

During his stay in Washington, meetings were held with the Deputy Director of the IMF Bo Lee and the Director of the IMF for Europe Alfred Kammer, as well as other senior officials of the IMF and the World Bank. They discussed the economic situation in BH, in terms of global economic trends, with reference to challenges that include high inflation, and monetary policy decisions that are taken with the aim of preserving monetary and financial stability.

Governor Softić pointed out that the CBBH overcame, by all means, the challenging 2022, and by restructuring the portfolio, reduced exposure to market risks.

At the meetings, Governor Softić pointed out that small countries like BH cannot do much in the fight against the rise of international tensions or the increase in world interest rates. The best they can do is to prepare for external shocks, and increase their own resilience to them by ensuring that there are no significant macroeconomic imbalances, especially in the fiscal area. In this regard, timely structural reforms, as the Governor emphasized, are of great importance for our country.

"For a currency board like our CBBH has, the best policy is to stick to our main principles as a guarantee of stability," Governor Softić concluded.

Also, the Governor attended the meeting of the Belgian-Dutch Constituency, as well as a closed meeting organized by the Director of the IMF's European Sector with the Governors and Finance Ministers of the countries of Central, Eastern and South Eastern Europe, where economic prospects, potential risks from recessions and challenges for Europe for the next period.

At the Spring Session of the IMF and the World Bank, Central Bank Officials and Finance Ministers of member countries gather to discuss the global situation, including world economic prospects, poverty eradication and economic development.