Governor Selimović Attending the Meeting of the Belgian-Dutch Constituency

Governor of the Central Bank of Bosnia and Herzegovina (CBBH), Jasmina Selimović, Ph.D. attended the meeting of the Belgian-Dutch Constituency of the International Monetary Fund (IMF) and the World Bank (WB), which was held from July 10 to 12, 2024, in Chisinau, Republic of Moldova.

The meeting in Moldova was dedicated to current economic and financial issues in the member countries of the Constituency with special emphasis on the importance of mobilizing private capital, and on the opportunities for innovation and growth through the application of artificial intelligence.

In the session on why the mobilization of private capital is important, it was pointed out that, in addition to budgetary and borrowed funds, the mobilization of capital from the private sector is essential for financing the recovery of economies affected by multiple crises with the aim of achieving accelerated and sustainable growth, especially developing markets and economies. It was emphasized that proactive measures are keys to increasing opportunities for the private sector and facilitating investment in developing economies.

Regarding artificial intelligence, which experts consider a new industrial revolution, the meeting discussed the opportunities that artificial intelligence opens up for growth and economic development, but also the challenges associated with artificial intelligence, including potential impacts on the labour market.

At the accompanying meetings of the Constituency, Governor Selimović spoke with senior officials of the IMF and the World Bank about past and future cooperation, as well as CBBH projects with these financial institutions.

Constituency meetings are held every year in one of the member countries to discuss issues important to the member countries of the Constituency. The Belgian-Dutch Constituency gathers the highest monetary and fiscal representatives, and apart from Bosnia and Herzegovina, this Constituency includes Armenia, Bulgaria, Belgium, Montenegro, Cyprus, Georgia, Croatia, Israel, Luxembourg, North Macedonia, Moldova, Ukraine, the Netherlands, Romania and Andorra.