Books on Bosnia & Herzegovina
156 - (25/05/10)
knows quite how turbulent and tumultuous a
place historically Bosnia has been. Just
think of Sarajevo, June 28, 1914 - and
what happened thereafter.
A new party for Bosnia
The Bosnian Minister of Education
consultant, Admir Pozderovic, announced in
mid-May in Sarajevo that he has
established a new political party, ahead
of key general elections in October.
What does this portend?
He is a high-minded man - he said the
vision of this party is determined
according to the Qur'an and Sunnah. Having
been in lofty positions in the former
governments of Bosnia-Herzegovina,
Pozderovic has had an initiative that has
been discussed in Bosnia-Herzegovina and
the region broadly.
Founder of the new party, Pozderovic is
also the writer of a book called "The
Clash of Civilizations in the 21st century
and the Victory of Islam according to
Muhammad's Predictions". Pozderovic was
the minister of Veterans and Fallen
Soldiers' Families in Bosnia-Herzegovina
New legal procedures
He has been busy with completing the new
party's legal procedures to become
official and to be able to involve in the
general election that will be held in
Planning to highlight the Islamic
sensitivity in the election campaign,
Pozderovic considers starting his campaign
with a promise of reform, a betting ban
and an offer of free health services
without using health cards.
Serb and Croat circles in the country have
criticized the party's political tendency.
They have asserted that a "shura council",
that the new party has desiderated is the
logical result of applying of sharia law.
True Path Party has a "shura council" and
the party defends it as "it is the
application of sharia law that is
currently applied in the Islamic Republic
of Iran." The party's political tendency
has been criticized particularly Serbs and
Croats in the country.
Some Serbian journalists argue Turkey with
recently changed its Balkan policy, could
give financial support for the party.
It is not clear if the Bosnian "True Path
Party," will be effective in
Bosnia-Herzegovina that is in a political
and economic impasse, or if Bosnian
Muslims will support the party.
IMF to the rescue?
If there is one country in the world
which is taken under the world's wing, as
it were, it is Bosnia-Herzovogina, because
There are signs that the assistance given
by the International Monetary Fund (IMF)
to Bosnia and Herzegovina had helped
stabilise the economy in a difficult
external environment, an IMF mission said
on May 18 2010 at the end of a 13-day
mission to the Western Balkans country.
The IMF mission, led by Costas Christou,
visited Bosnia and Herzegovina to initiate
discussions on a second review of the
country’s stand-by arrangement with the
Bosnia and Herzegovina has an external
debt of about 30 per cent of GDP. In 2009,
the IMF pledged 1.2 billion euro to help
ease the impact of the economic crisis on
the country, which of late has been hit by
the slide in the euro, to which local
currency the marka is pegged.
An IMF statement quoted Christou as saying
that there were signs that the arrangement
had helped stabilise Bosnia and
Herzegovina’s economy in a difficult
"Macro-financial vulnerabilities have been
reduced, household deposits have fully
recovered from their low point in late
2008, the central bank’s foreign exchange
reserves have remained stable, and
foreign-owned banks have broadly
maintained their exposure to BiH,"
Positive developments so far this year
include growth in industrial production in
both BiH’s entities, strong pickup in
exports, and gains in indirect tax revenue
collection, he said.
"Accelerated implementation of policies is
now needed to preserve these early gains.
All the quantitative targets for end-March
2010, for which information is available,
were met but effective implementation of
the Federation’s structural benchmarks has
He said that the authorities were now
considering measures to correct these
slippages, including by expediting
eligibility audits; finalising the
privileged pension reform; and taking
steps to ensure that the budget allocation
for the wage bill in 2010 will not be
“Although there is general agreement on
the need to improve the government’s
financial position, the authorities need
more time to reach consensus about how to
achieve this objective. In this context,
it would be helpful if the State and the
Entity authorities were to agree on a
common global fiscal framework for
2011-13, for which work has already
begun," Christou said.
With the initial signs of the economic
recovery under way, it is important that
the BiH population’s hopes for better
growth and employment prospects are not
undermined by policy uncertainty ahead of
the October elections.
"Against this background, strong
leadership by all authorities will be
required to mobilise support for the
difficult decisions that may still need to
be taken. Perseverance with reforms of
rights-based benefits and continued
efforts to strengthen the fiscal position
will remain critical for the better
targeting of social benefits, and for the
financial integrity of the public pension
systems," he said.
Christou said that discussions with the
authorities would continue, as soon as the
authorities come to agreement on measures
necessary to advance the programme
objectives under the SBA.
"The fourth tranche of support, SDR 33.82
million (about 40 million euro), is
contingent upon satisfactory completion of
this review. This would bring the overall
support from the IMF, including the SDR
allocation, provided to BiH to about 565
million euro," Christou said.