Chairman Tegeltija Opens IMF/WB Constituency Meeting in Sarajevo

Chairman of the Council of Ministers of BIH Zoran Tegeltija opened solemnly in Sarajevo a meeting of the Constituency of International Monetary Fund and World Bank, to which Bosnia and Herzegovina belongs. 

Chairman Tegeltija stated that the priority of the Constituency member-countries, as well as of the EU, World Bank and IMF, is to contain inflation and price growth, and secure funds for a provision of food and energy.

“At today’s meeting of Constituency, a group of member countries of the World Bank and International Monetary Fund, to which BIH belongs, we heard that after this, the next year will be very difficult to all citizens and for countries’ budgets, in the face of global issues”, Chairman Tegeltija, who is BIH governor in the IMF, said to the press in Sarajevo.

He said that there are no universal solutions for each country, meaning that they will have to adjust individually and seek adequate solutions to overcome evident economic crisis, which hit almost the whole world.

According to him, today’s meeting discussions, especially by representatives of the World Bank and IMF, are not encouraging, since the enormous growth of food and energy prices will not be just in this year, but will be transferred to the next year, which is a grave challenge.

“We have got a clear message that no-EU countries will face challenges in attempt to find finances with international financial market, so it is difficult to tell what is bigger challenge for BIH now - impossibility to approach international financial markets or a sharp growth of food and energy prices”, Tegletiaj said.

He reminded that BIH authorities have done a lot to solve mentioned problems by way of different measures and following experiences of other countries.

According to him, prices were contained, as well as margins, funds were secured, as were direct interventions within various groups of society.

“We have not intervened in the area of tax policy, and were recommended today to avoid such undertaking in future”, Tegeltija said.

He stressed that he does not expect food and energy scarcity in BIH, not in the Constituency and EU countries

Tegeltija said that support to needy population categories should be at the focus of all governments.

He appealed for a better solidarity among states, much higher than that seen during Corona virus pandemics, emphasising that solidarity is a matter of political decisions by key stakeholders in Europe.

“Our obligation is to secure the most favourable prices of electric power to citizens”, the Chairman of the Council of Ministers said. (end)