Tuesday, October 23, 2007


WASHINGTON, USA (October 23,2007) - The World Bank Managing Director Graeme Wheeler said at the meeting with Bosnia's Prime Minister Nikola Spiric in Washington that the Bosnian economy is on an upward path, but that more still needs to be done on attracting foreign investments, completing the privatisation and increasing employment, the Bosnian Council of Ministers stated.

Wheeler said that the World Bank places a special emphasis on activities from the Action Platform, which was signed in Sarajevo on October 16.

“We need a quality approach with the World Bank in order to improve Bosnia's economy”, Spiric said.

He stressed that the credit program for the upcoming period needs a so-called reform scenario, which would include a stronger boost for the implementation of the remaining reforms.

Spiric thinks that this scenario would significantly encourage foreign investments.

Spiric informed Wheeler about the development of the Poverty Reduction Strategy Program (PRSP)." We are working on maintaining macroeconomic stability”,Spiric said.

He added that the ration between IDA and IBRD credits should be 50:50 and stressed that access to IBRD loans would send a good message to foreign investors.

Spiric also met with the U.S. Assistant Secretary of State for Europe Daniel Fried and Deputy Assistant Secretary of State Rosemary Di Carlo in Washington.Spiric stressed during talks that the policy of negation is dangerous in Bosnia and that everyone has to respect the Bosnian constitution.

Spiric expressed regret that the previous period has not been used more constrictively for the implementation of reform. He again stressed the need for dialogue in Bosnia.

Spiric said that the Stabilisation and Association Agreement with the EU represents the most important document for Bosnia since the Dayton Agreement.

The U.S. Assistant Secretary of State for Europe Daniel Fried said that the United States supports the International Community's High Representative in Bosnia and his measures, which are aimed at strengthening the Bosnian state.

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