The Role of the International Monetary Fund in the Post-War Reconstruction of Bosnia and Herzegovina

Abstract

The specifics of international organizations stated in the paper contain a particular reference to global financial institutions. It refers to the support of the development of countries in transition. It also states their reconstruction under the patronage of subjects of international law. The authors indicate the importance of the foundation and historical development of international financial institutions, especially the International Monetary Fund, along with its connection with its growing influence in the field of project financing, both regionally and globally. In the second part of the paper, the focus is on the participation of the International Monetary Fund in the reconstruction and revitalization of Bosnia and Herzegovina from the end of the war conflicts in 1995 until today. The comparative review points to the most significant areas that had the support of the International Monetary Fund in the financing of projects but also draws attention to the political side of this support through the imposition of conditions for financial resources to be approved. Through an overview of stand-by arrangements, the authors analyze the connection between the approval of projects by international financial organizations and their relation with the insistence on the implementation of specific reforms in Bosnia and Herzegovina