Vice Governor Kozaric in Visit to the European Central Bank

Vice Governor of the Central Bank of Bosnia and Herzegovina (CBBH) Kemal Kozarić has returned today from Frankfurt, where he was in two-day visit to the European Central Bank (ECB).

During his visit Mr. Kozarić met with members of the ECB Executive Board Mr. Tommaso Padoa - Schioppa and Mrs. Gertrude Tumpel - Gugerell, as well as with Director General for International and European Relations Mr. Pierre van der Haegen. Kozarić presented the most significant macroeconomic indexes and economic situation in the country to the representatives of the ECB. On that occasion he specially stressed clear determination of authorities and citizens of BH to join to European Union. The discussion was also made about the current reforms and creation of conditions which are necessary for the beginning of negotiations on stabilization and joining.

The CBBH receives significant help from the International Monetary Fund (IMF) and the World Bank (WB), but the need was also stressed to have even tighter cooperation with the ECB in the future. In order to be better prepared for the forthcoming reform processes, Kozarić stressed, the CBBH has established its European Integrations Department. The ECB representatives have expressed their readiness for the direct cooperation, which will, during the first stage, reflect through the necessary education of staff, exchange of the statistical data as well as the access to the useful documentation and literature. The ECB officials have also promised that they, during the candidate stage or during the pre- accession preparations, will provide necessary help with harmonization of legal standards, organization and other standards with standards of the EU member states.

The CBBH has applied to be the host of the Conference of the central banks of countries which are preparing to enter the EU, and this Conference will be held in the middle of the next year in organization of the ECB.

Public Relations Section