senad softi : from crisis to recovery introductory statement by mr senad softi, governor of the central bank of bosnia and herzegovina, at the imf - world bank constituency meeting, sarajevo, 14 september 2022. * * * your excellences, ladies and gentlemen, dear fellow governors. it is my great pleasure to present my statement to the imf - wb constituency meeting. i am very proud that bosnia and herzegovina are a host of such high - level event. i think it is a perfect place for our meeting in this increasingly polarized and divided world. we share the same problems and the same destiny so cooperation, exchange of views and experience are more important than ever. as central bank governor, i will talk on three main topics : 1. central bank of bih and 25 years anniversary 2. our relations with the imf and the world bank 3. and how do we see the future? 1. central bank of bih achievements in its 25 years'history central bank of bosnia and herzegovina celebrate 25 years anniversary this year. we started our operations on august 11, 1997. during this time, under complex and challenging circumstances in europe, the world and in bosnia and herzegovina, the country's monetary stability was maintained as one of the key factors of the macroeconomic stability. we managed to keep our currency board working, serving our macroeconomic stability and society. and it proved to be successful and resilient during good times but also during crises such as financial crises in 2008, pandemic one in 2020, as well as the present one with war in ukraine. during crises time central bank of bosnia and herzegovina provided : enough cash in circulation for banks and citizens, maintained efficient payment system in the country with no delay, lead coordination and communication on the high level among other institutions in the country, and keep timely and transparent public communication. this is how we maintained stability and confidence in the domestic currency - the convertible mark, thereby contributing to overall financial stability of bosnia and herzegovina. all 25 years we have been working in the interest of the state, economy and citizens of bosnia and herzegovina. we have passed a dynamic path, from the establishment of the single currency of bosnia and herzegovina, through the reform of the payment systems and banking sector, to the numerous implemented projects with domestic and 1 / 3 bis - central bankers'speeches international financial institutions, which has established us as a strong, professional and responsible institution. the cbbh is also recognized by relevant domestic and international organizations

senad softic : we will carefully monitor developments and possible changes media statement by mr senad softic, governor of the central bank of bosnia and herzegovina, on possible impacts of the euro introduction in croatia. statement issued on 7 august 2020. * * * the central bank of bh does not expect major challenges related to the introduction of the euro in croatia, said the governor of the central bank of bh he said that the foreign exchange risk in transactions with croatia will remain insignificant, as long as the currency board regime is in force in bh, or until bh introduces the euro. how much will the adoption of the euro in croatia, sooner or later, have an impact on bosnia and herzegovina, given the border connections and the turnover that still exists? we do not expect major challenges regarding the introduction of the euro in croatia. on the contrary. the exchange rate regime in force in croatia is a managed fluctuating exchange rate. the fact that croatia is in erm ii means, among other things, that the cnb has successfully maintained the exchange rate of the kuna against the euro in a certain narrow spread. therefore, fluctuations in the exchange rate of the kuna against the euro, and consequently against the km, were not strong. this means that foreign exchange risk in the financial system and the real sector, from this aspect, was not emphasized. with the introduction of the euro, foreign exchange risk in transactions with croatia will become negligible, as long as the currency board regime is in place in bh, or until bh introduces the euro. therefore, when croatia introduces the euro, the risks of doing business with croatia will be lower because the foreign exchange risk of changes in the value of the kuna against the euro will be eliminated. also, exchange operations ( currency exchange operations ) will be simpler because the same money will be used in 17 other countries. it is possible that in the medium term, the croatian economy will become more integrated and turn to countries that have the euro. but i repeat, there should be no major challenges. the cbbh will monitor the developments very carefully and take measures in time, if necessary. 1 / 1 bis central bankers'speeches