International Mediator in Bosnia Imposes Economic Laws
One day after general elections in Bosnia the international community's top mediator Wolfgang Petritsch imposed a package of laws aimed at improving the country's ailing economy.
Petritsch imposed a law creating a state court, pension laws in both entities as well as a package of trade laws aimed at bringing Bosnia in line with European standards, a statement from his office said.
Some of the new laws -- the establishment of the new state court, which among other things will settle foreign trade disputes, or trading standards -- were needed to meet European Union deadlines, the statement said.
The amendments to pensions and labor laws form part of World Bank conditions for disbursement of its structural credits, the statement added.
The reform package enables Bosnia to meet conditions for the release of a second tranche from the World Bank's Second Public Finance Structural Adjustment credit totaling 24 million dollars.
It also helps Bosnia-Herzegovina to keep the World Bank's Country Assistance Strategy to 2002 on track, including potential access to 130 million dollars in budget support over that period.
Despite substantial international aid of some 5.1 billion US dollars, Bosnia has failed to create a self-sustaining economy.
In his statement Sunday, Petritsch also called on newly elected officials "to push ahead with dynamic, far-reaching economic reforms" -- SARAJEVO (AFP)
© 2000 Al Bawaba (www.albawaba.com)
- Bosnia Mediator Optimistic About Sarajevo-Belgrade Diplomatic Ties
- Bosnia International Mediator Concerned at Kostunica Trip
- Speaker: Iran is the most democratic state in the region
- UAE Ministry of Economy to strengthen economic relations with Bosnia and Herzegovina
- Algerians Linked to Threats on US Embassy in Bosnia under Investigation