On 19th of April 2015, President of the Association of the users of credit in CHF “Švicarac” Kemal Duraković cried of happiness after the House of Representatives of the Parliament of FBiH unanimously supported the Draft law on conversion of credit with currency clause in Swiss francs. One month later, it seems that the authorities decided to strand the users of credit in CHF once again.
Unofficially, although the amendments to the law in the House of Representatives were supported by all parties, it seems like the ruling coalition pulled the handbrake now.
Namely, in the letter of intent which lists all reforms that the authorities intend to implement, it is decidedly stated that there will be no conversion of any kind. Given that the loan from IMF is the rescue rope which the authorities eagerly accepted, it is hard to believe that all the things they promised to the IMF will come true.
One day before the session of the House of Representatives on June 2 this year, representatives of the association “Švicarac” invited the delegates to consider this law, despite of the announcements that it will not be considered at all.
“If the draft law is not on the agenda of the House of Representatives tomorrow, that will be a clear indicator that the state really sold us and as the representative of the association I will invite the users of credits to not respect the country because that is our money,” Duraković said then.
Duraković believes that global financial institutions, primarily IMF, the World Bank and others, do whatever it takes to prevent the adoption of this law. However, Duraković fears that the users of credit in CHF could be a “sacrifice” in the negotiations of authorities and the international financial institutions.
The FBiH Government had already given a negative opinion about this law, and the economic expert close to the lading people in FBiH Zlatko Hurtić confirmed the attitudes of the government in an interview.
Hurtić said that the adoption of this law brings huge risks, primarily legal instability, less foreign investments, and damage to the ambitions of the government to increase employment, wages and pensions.
(Source: klix.ba/photo: kamatica.com)
