Objavljeno u kategoriji English na 19.04.2016 15:30:38

Cenic: I feel like crying because of new IMF loan!

Economic analyst Svetlana Cenic says that she is not happy about the state Prime Minister Denis Zvizdic's announcement of new financial debts with IMF. New loans cannot solve problems of BH citizens and grave economic situation is only deepens those problems.  

Zvizdic confirmed for N1 that agreement on a new 3-year loan arrangement has been reached between BiH and International Monetary Fund, totaling somewhat over 1 billion KM.

- The deal will be finalized in the course of a visit of the mission of IMF to BiH, which will take place in May, informed Zvizdic.

Cenic says 'she feels like crying every time she hear the talks about new loans because she can't see any chance for economic recover of BiH'.

The question is how they will spend the money, they will spend it on operational costs. Because in the RS pensions are late... So there is no chance of development, only about putting out the fire, warns Cenic.
I do believe that Mr. Zvizdic feels relieved. But nobody gives loans because they like you, it is not a gesture of good will towards BiH... Financial institutions can't wait to place funds.

Cenic says that she is worried because nobody in BiH is talking any longer about creating an inviting place for local and international investors, nobody is talking about relaxing the economy, reducing the public administration... Announced reforms are not being implemented. Very little is being done and it is likely to be wrongly done. And the money arriving from the outside and new debts are only concealing the problem and postponing it until it comes up for repayment.

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