EVALUACIJA OKVIRA ZA ANALIZU ODRŽIVOSTI I UPRAVLJANJA JAVNIM DUGOM BOSNE I HERCEGOVINE
EVALUATION OF FRAMEWORK FOR SUSTAINABILITY ANALYSIS OF PUBLIC DEBT MANAGEMENT OF BOSNIA AND HERZEGOVINA

Summary/Abstract: This paper examines whether Bosnia and Herzegovina successfully manages its public debt, and how it goes about doing so. The specific features of its constitutional, economic, and fiscal system emphasize the role of public debt in the stability of BiH's public finances, and its Euro-Atlantic path requires the fulfillment of Maastricht criteria, namely public debt criteria. Hence, findings in this paper, surprisingly, indicate the serious weaknesses in the framework for analyzing the sustainability of BiH's public debt and the lack of its application to the public debt management process. Moreover, public debt management seems, at best, to be present in the form of a passive approach lacking the right strategy and statistical basis, and not using any instruments to address the identified risks in its portfolio.

• Details
• Contents