Bosnia and Herzegovina faces serious financial consequences due to the inconsistent debt to the Slovenian company “ViaDuct”, which dates back to 2022. years. Namely, the state has lost the arbitral dispute and commit to the payment of 110 million KM, including the principal and interest, due to the termination of the Concession Agreement for the construction of hydroelectric power plants on Vrbas. Although the responsibility for this debt has taken over the Government of the Republika Srpska, the Slovenian company now uses all legal mechanisms to collect their receivables, including property blockage.
As a consequence of this debt, the Service Agency in the Air Navigation of BiH (Bhansa) has found in the center of the problem. Namely, the executive order from Brussels ordered to freeze payments to Bhansa, which threatens serious consequences for air traffic in BiH. Eurocontrol informed Bhansa to suspend all the financial transfers to this agency, which could lead to the suspension of all airlines in Bosnia and Herzegovina, including passenger, cargo and humanitarian traffic.
If the payment of payments under BHANSA, safe and uninterruptible air navigation will be seriously endangered, and the country will face negative consequences that do not only apply to air traffic and the loss of jobs and financial losses at the state level. In addition, BiH could experience a serious decline in international reputation and confidence in the ability of the state to manage its airspace.
The Government of the Republika Srpska, which was in charge of fulfilling obligations under the Slovenian company, is persistently avoiding the execution of obligations, which is the entire state borne by the consequences. In addition, BiH and its institutions are now faced with the possibility of losing strategic facilities, including the Central Bank of BiH, as well as problems in the civil aviation sector that could have far-reaching economic and political repercussions, writes Noise.
