German Ambassador visited the CBBiH

On 14 January 2013, Ambassador of Germany in BH H.E. Ms Urlike Knotz, with her associates, visited, the Central Bank of Bosnia and Herzegovina (CBBH), where she talked with the Governor Kemal Kozarić, Ph.D.  

Governor Kozarić expressed content with good cooperation that the CBBH has had with institutions of Germany and expressed his appreciation for all that the Government of this country is doing for BH. He especially emphasized good relations of the CBBH with the Bundesbank, where a part of foreign currency reserves is deposited, then with the GIZ (Gesellschaft fur Internationalle Zusammenarbeit) organization and with German commercial banks.

Ambassador Knotz pointed out that the CBBH has a special reputation in BH, and that the information coming from German organizations cooperating with the CBBH are always exceptionally positive.

Among other issues, Ambassador Knotz was interested in situation in real sector of BH economy, the financial crisis effects on banking sector, the implementation of the SBA and the challenges that the CBBH has faced within the process of sustaining the financial stability.

Governor Kozarić emphasized that the Currency Board Arrangement contributed to regaining  of citizens confidence into the local currency and that it has been proved to be a successful model during the crisis. The same can be said for the banking sector, which successfully survived all crises challenges and remained the strong pillar of BH economy.

The 2013 is projected to be a year with mild economic pick-up. However, it takes time to completely eliminate the crisis effects. Related to this, the Governor mentioned that BH has been facing a big task in providing the positive business environment and creation of new work posts.

Ambassador Knotz also emphasized that it has been necessary to open more space for private initiative and development of entrepreneurship.

Public Relations Section