Ambassador of Japan Visited the CBBH

Today, on May 11, 2009, the Ambassador of Japan in BH His Excellency Mr. Futao Motai visited the Central Bank of Bosnia and Herzegovina (CBBH), where he discussed with the CBBH Governor Kemal Kozarić, Ph.D. the economic situation in BH, impact of the global crises on BH and results of negotiations of BH authorities with the International Monetary Fund (IMF) related to new Stand-by Arrangement.

 The Governor presented to the Japanese Ambassador the microeconomic data for the last  year as well as projections for this year, emphasizing that real sector will face more problems  than financial one while coping with the crises effects. This is especially evident through the Gross Domestic Product (GDP) projections, which from the initial growth of 3, 5% will reach negative zone of -1, 8% in this year. 

The Governor expressed satisfaction that Agreement related to the new Stand-by Arrangement with the IMF and BH authorities has been reached, adding that new Arrangement conditions include savings in budgets at all levels and reform in budget consumption. The CBBH's commitment within the new Arrangement is to maintain monetary stability based on the Currency Board Arrangement.    

Public Relations Section