“We are somewhat isolated from the world’s economic flows thanks to a whole series of elements. The banking sectors, especially in America, have trapped significant funds in bonds that are low-profit but absolutely safe. And then there are people who recognized opportunities and opportunities to make money on some economic analyst Zoran Pavlović explained in Answer to the People.
“Two banks in America have already gone bankrupt, the third is still there, and very few large employers kept a lot of money. The same thing happened in Switzerland.”
He emphasizes that we, in the financial sense, are focused on ourselves.
“Our banks are no longer foreign banks, our banks are domestic banks. They have the deposit money of our citizens at their disposal and I don’t see any possibility that this wave of bank bankruptcies will spill over into Bosnia and Herzegovina.”
Pavlović points out that the panic arose at the moment when Sberbank came to a situation where it was blocked in Europe.
“So we sold Sberbank, one in Sarajevo and the other in Banja Luka, to other banks through the Agency, and thus the trust of the citizens who kept their money in the banks was preserved. The biggest problem for the bank is panic. At this moment in BiH there is no panic, there is no reason to fear. I regret that some of the additional revenues collected by the state through inflation and ITA are not reinvested in the economy, and the economy is the one that should carry the development of this country.”
He says that there are concerns in Republika Srpska, but that there is no panic for now.
“The concern is serious about the obligation of 400 million marks on the basis of the Vienna Stock Exchange, but since it was later the London Stock Exchange, I am absolutely convinced that the Ministry of Finance and the Government will ensure that this obligation is settled, because if they do not provide the money, they will be in a situation where no one else believes in RS bonds. We saw that Prime Minister Višković was in Beijing and negotiated with the investors with whom the contract was signed, but also with banks and funds. One thing is certain, Serbia will issue 4.7 billion euros in bonds this year in order to collect funds to rehabilitate the accounts that are still coming due.”
“The situation is not simple, but I am sure that the Ministry of Finance will provide money at the price of not paying pensions and salaries to the public sector. But they will preserve the credibility of the bonds placed because if they don’t do it, then it will be a really long-term problem for the entire RS. But it won’t to be sure, it’s too high a stake for the future to not be secured this year in regular billing,” concluded Pavlović.
