As part of her participation in the Annual Meetings of the International Monetary Fund (IMF) and the World Bank in Washington, the Governor of the Central Bank of Bosnia and Herzegovina (CBBH), Jasmina Selimović, in her capacity as the Governor of Bosnia and Herzegovina in the IMF, held a series of meetings with senior officials of the IMF and the World Bank.
In the conversation with IMF Deputy Director General Bo Lee, the emphasis was placed on preserving macroeconomic and financial stability, strengthening the resilience of the banking sector and accelerating the digital transformation of the financial system. Global monetary policy trends and challenges in harmonizing measures that support stability and development were also discussed.
During the meeting with the director of the European Department of the IMF, Alfred Kammer, the current macroeconomic developments in Bosnia and Herzegovina and Europe were discussed. Special focus was on inflation, fiscal sustainability and economic growth prospects.
Governor Selimović presented the activities of the CBBH aimed at preserving monetary and financial stability, as well as measures that contribute to the long-term resilience of the economy. She emphasized the importance of continuous dialogue and cooperation with the IMF, stressing that the professional support provided by the Fund is a key help in timely recognition and response to macroeconomic risks.
Kammer expressed his support for the work of the CBBH, especially the consistent application of the policy of the currency board, which is one of the key pillars of stability in conditions of global disturbances.
During the meeting with Jeroen Clicq, Executive Director of the Dutch-Belgian IMF Constituency, and Marnix van Rija, Deputy Executive Director of the Constituency, to which Bosnia and Herzegovina also belongs, challenges and opportunities for the economic stability of the country and the region were discussed. They discussed global economic trends, inflationary challenges, and the need to carry out structural reforms. The importance of cooperation within the Dutch-Belgian constituency, which provides Bosnia and Herzegovina with access to international experiences, expertise and technical assistance through the IMF’s institutional mechanisms, was particularly emphasized.
Governor Selimović informed the interlocutors about the key strategic priorities of the CBBH, among which the SEPA (Single Euro Payments Area) accession projects and the implementation of the TIPS Clone (TARGET Instant Payment Settlement) system stand out. These projects represent an important step towards the modernization of the payment system and harmonization with European standards.
– The implementation of the SEPA and TIPS projects not only ensures technological and infrastructural compatibility with European standards, but also contributes to strengthening investor confidence, improving the business environment and better integration of the domestic economy into the European financial space – emphasized Governor Selimović.
Also, during the conversation, the importance of financial education and inclusion was highlighted as an integral part of a broader strategy for improving the economic resilience of citizens and the economy. Governor Selimović reminded that Bosnia and Herzegovina recently became a full member of the international network for financial education (OECD/INFE), which opens up new opportunities for the exchange of experiences and the development of national financial education and inclusion programs.
– Investing in financial literacy is investing in the long-term resilience of citizens and the economy. Through education, we want to increase understanding of financial decisions, strengthen trust in institutions and reduce vulnerability to economic shocks – Governor Selimović added.
The governor also attended the meeting of the Dutch-Belgian constituency, where she addressed the participants, stressing the importance of preserving the independence of central banks as the basis of a stable monetary policy. In her presentation, she referred to the challenges faced by developing countries, especially in the context of the increasing loss of competitiveness in global economic flows.
In the conversation with World Bank officials, the importance of the role of this financial institution as a long-term partner of Bosnia and Herzegovina in the implementation of development projects, especially in the field of technical and financial support for strengthening economic growth, employment and resistance to climate change, was highlighted.
During the meeting with Eugene Rhuggenaath, Executive Director of the World Bank Group and Antonella Bassani, Vice President of the World Bank for Europe and Central Asia, the emphasis was placed on cooperation in the field of digital transformation.
– Cooperation with the World Bank and the IMF is of strategic importance for Bosnia and Herzegovina. Through joint projects, we are building a stable, inclusive and sustainable financial system, developing digital infrastructure and strengthening the resilience of our society – Governor Selimović concluded, the CBBH announced.
