Bosnia and Herzegovina: Second and Third Reviews Under the Stand-By Arrangement
July 9, 2003
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Activity and fiscal policy continue to exceed expectations, but strong bank credit growth has fuelled a sharp increase in the current account deficit. In this context, the new administrations recognize the need to establish the macroeconomic stability quickly. These actions are supported by strengthened bank regulations. The new administrations recognize the need for sweeping structural reforms if their aspirations to eventual EU membership and sustained growth are to be realized. But with unemployment high and with large aid inflows set to decline further, risks remain.
Subject: Arrears, Banking, Budget planning and preparation, Debt service, Expenditure, External debt, Public financial management (PFM)
Keywords: Arrears, authorities of Bosnia and Herzegovina, authority, BIH authorities, Bosnia-Herzegovina, Budget planning and preparation, CR, Debt service, expenditure ceiling, ISCR, reform effort, RS government, State Court of BiH
Pages:
89
Volume:
2003
DOI:
Issue:
204
Series:
Country Report No. 2003/204
Stock No:
1BIHEA0022003
ISBN:
9781451804843
ISSN:
1934-7685
