IMF Staff Country Reports

Bosnia and Herzegovina: Second and Third Reviews Under the Stand-By Arrangement

Publication Date:

July 9, 2003

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

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.

Series:

Country Report No. 2003/204

Subject:

Arrears Banking Budget planning and preparation Debt service Expenditure External debt Public financial management (PFM)