FinMin Says Bosnia Won't Need IMF Assistance To Counter Global Crisis - Media

SARAJEVO (Bosnia and Herzegovina), October 31 (SeeNews) – Bosnia will not need assistance from the International Monetary Fund (IMF) to counter the effects the global financial crisis might have on its economy, a local daily quoted on Friday the country’s Finance Minister Dragan Vrankic as saying.

“Bosnia and Herzegovina, as for now, doesn’t need such assistance. We have certain arrangements with the World Bank and the European Commission through aid programmes,” Dnevni Avaz daily quoted Vrankic as saying.

Earlier this month, Bosnia’s central bank governor Kemal Kozaric said he expected the global financial crisis to have only indirect effects on the economy, possibly making loans from commercial banks more expensive. Many Bosnian citizens have been withdrawing their bank deposits since the beginning of the crisis but withdrawals have slowed down in October, local media has reported.

Bosnia’s economy operates under a currency board system that ties the Bosnian marka to the euro at a fixed exchange rate.

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