Ambassador of Germany in BiH Urlike Knotz visited Central Bank of BiH where she talked with Governor Kemal Kozarić.
Kozarić expressed his satisfaction with cooperation of the Central Bank in BiH and institutions of Germany, and thanked the Government of Germany for everything it has done for BiH.
He stressed the good relations of Central Bank of BiH with Deutsche Bundesbank, where the amount of foreign exchange reserves is being stored; with GIZ(Gesellschaft fur Internationalle Zusammenarbeit) and with commercial banks.
Knotz said that the Central Bank has a special reputation in BiH, and that the feedback from German banks, which cooperated with the Central Bank of BiH, is very positive.
Knotz was interested in the situation in the real sector of the BiH economy, the impact that the financial crisis has had on the banking sector, the implementation of the SBA, and the challenges faced by the Central Bank in the process of maintaining financial stability.
Kozaric noted that the currency board arrangement has contributed to restoring public confidence in the domestic currency, and proved to be a successful model during the crisis. The same can be said for the banking sector, which has successfully overcome the challenges of the crisis and has remained a mainstay of the economy of BiH.
In 2013, BiH can expect a slight economic recovery, but it will take some time to recover from all the consequences of the economic crisis.
Kozarić said that a great deal of work is awaiting BiH in order to create a sound business environment and new jobs.
Knotz stressed that it’s important to open up more space for private initiative and entrepreneurship development.
