Ambassador Wigemark Visited the CBBH

On 20^th June 2016, Head of the Delegation of the European Union (EU) in BH and EU Special Representative in BH, H.E. Ambassador Lars-Gunnar Wigemark and his associates visited the Central Bank of Bosnia and Herzegovina (CBBH), where he had talks with CBBH Governor Senad Softić, Ph.D. and Vice Governors. 

Ambassador Wigemark was interested in the implementation of monetary policy, the Reform Agenda and arrangement of Bosnia and Herzegovina with the International Monetary Fund (IMF). 

Governor Softić stressed the commitment of the CBBH and the support of the BH authorities to continue the implementation of the Currency Board, which has provided monetary stability and contributed to the stability of the banking and financial sector as a whole. 

From Reform Agenda, we expect the improvement in the field of structural reforms and implementation of the Agenda, according to the Governor's words, should help BH on its path towards the EU. In the framework of the Agenda, it was emphasized the need for further efforts to improve the stability of the financial sector and to create the conditions necessary for a stronger crediting of the economy and launching the economic activities. 

In the context of European integration, BH expects Questionnaire which is an official instrument for the EU to assess the readiness of a country to begin the accession process. As part of the Questionnaire there are Chapters related to the CBBH in which the CBBH is going to participate as a leading or co- charged institution for specific areas. 

On this occasion, too, Governor emphasized the extreme importance of the upcoming program with the IMF as a reform-oriented and resulting in the improvement of the current situation in the economy and the banking and financial sector in BH. 

The Ambassador Wigemark expressed strong supports to the continuance of the implementation of Currency Board and independence of the CBBH in its operations. 

“With the adopted Reform Agenda, now is a good time to undertake structural reforms that will improve the economic potential of the country and reduce the barriers faced by domestic and foreign investors. The Central Bank of Bosnia and Herzegovina is one of the institutions that play a key role in maintaining of the monetary and financial stability and the implementation of macroeconomic policies, which are important for the continuation of reforms, growth and jobs creation,”said Ambassador Wigemark during discussion with Governor Softić.