Governor Softić in Washington discussed with IMF and WB officials

Governor of the Central Bank of Bosnia and Herzegovina (CBBH) Dr. Senad Softić visited Washington where, as a member of the delegation of Bosnia and Herzegovina at the spring meetings of the International Monetary Fund (IMF) and the World Bank (WB), he discussed with the highest officials of the IMF and WB.

The discussions concerned the situation in the country and the economic situation in light of the preparations for the upcoming visit of the IMF Mission and the signing of the Letter of Intent on an extended arrangement for BiH (Extended Fund Facility), the CBBH announced, reports the Patria News Agency.  

Special meetings of the CBBH Governor with representatives of the IMF and WB were dedicated to issues that are important for the CBBH within the framework of the new IMF program for BiH, given that the governor is one of the signatories of the Letter of Intent, along with other government representatives at the state and entity levels. During these meetings, the importance of preserving the currency board and monetary stability, as well as the stability of the banking and financial system as a whole, was emphasized. Governor Softić pointed out the need for the future program with the IMF to be reform-oriented and to result in an improvement of the existing situation in the economy and the banking and financial sector in BiH.

Particular emphasis was placed on the need for better banking coordination and more active participation of all actors in the financial and banking system – the CBBH, entity banking agencies, and the Deposit Insurance Agency of BiH – in terms of mutual cooperation and joint coordinated action.

It was agreed to continue working with the IMF and WB on projects that are important for the CBBH, and in this regard, Governor Softić requested assistance in the area of CBBH portfolio management and the improvement of payment systems and the introduction of supervisory functions in this area. Also, the Governor emphasized the importance of the CBBH's active participation in the preparation of entity banking laws in those parts that fall under its jurisdiction.

The Governor, along with other members of the BiH delegation, also attended a meeting of the Dutch Constituency, to which BiH belongs, after which the CBBH delegation held a series of bilateral meetings. The Secretary of the CBBH Management Board, Lejla Simon, attended all meetings of the CBBH Governor in Washington, according to the statement.