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Bosnia And Herzegovina And The International Monetary Fund
Bosnia and Herzegovina declared independence from the state formerly known as Yugoslavia in 1992 and joined the International Monetary Fund (IMF) on December 14, 1992. Bosnia and Herzegovina officially succeeded to the IMF membership of the former Yugoslavia on December 20, 1995, thereby giving the country access to the quota, as well as outstanding loans and payments, on behalf of Yugoslavia. Bosnia and Herzogovina, often synecdochically referred to as Bosnia, currently has an IMF quota of 265.20 million SDR (or $364.01 USD). Bosnia is part of the constituency that contains primarily Eastern European countries but is led by the Netherlands and Belgium. Bosnia controls 4,117 votes of the constituencies 273,058 total votes, and the constituency overall accounts for 5.43% of the IMF's total votes. Since Bosnia joined the IMF in 1992, the country has utilized five borrowing arrangements, four of which were under the Stand-By Arrangements (SBA) and one of which was under thExt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Flag Of Bosnia And Herzegovina
The flag of Bosnia and Herzegovina ( sh, / ) contains a medium blue field with a yellow right triangle separating said field, and there are seven full five-pointed white stars and two half stars top and bottom along the hypotenuse of the triangle. The three points of the triangle stand for the three main ethnic groups (or "constituent peoples") of Bosnia and Herzegovina: Bosniaks, Croats, and Serbs. The triangle represents the approximate shape of the territory of Bosnia and Herzegovina. The stars, representing Europe, are meant to be infinite in number and thus they continue from top to bottom. The flag features colors often associated with neutrality and peace – white, blue, and yellow. They are also colors traditionally associated with Bosnian culture and history. The blue background is evocative of the flag of the European Union. The Bosnian national flag is also used for official purposes by the Federation of Bosnia and Herzegovina, one of the constituent entities o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bosnian War
The Bosnian War ( sh, Rat u Bosni i Hercegovini / Рат у Босни и Херцеговини) was an international armed conflict that took place in Bosnia and Herzegovina between 1992 and 1995. The war is commonly seen as having started on 6 April 1992, following a number of earlier violent incidents. The war ended on 14 December 1995 when the Dayton accords were signed. The main belligerents were the forces of the Republic of Bosnia and Herzegovina and those of Herzeg-Bosnia and Republika Srpska, proto-states led and supplied by Croatia and Serbia, respectively. The war was part of the breakup of Yugoslavia. Following the Slovenian and Croatian secessions from the Socialist Federal Republic of Yugoslavia in 1991, the multi-ethnic Socialist Republic of Bosnia and Herzegovina – which was inhabited by mainly Muslim Bosniaks (44%), Orthodox Serbs (32.5%) and Catholic Croats (17%) – passed a referendum for independence on 29 February 1992. Political representatives of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Structural Adjustment
Structural adjustment programs (SAPs) consist of loans (structural adjustment loans; SALs) provided by the International Monetary Fund (IMF) and the World Bank (WB) to countries that experience economic crises. Their purpose is to adjust the country's economic structure, improve international competitiveness, and restore its balance of payments. The IMF and World Bank (two Bretton Woods institutions) require borrowing countries to implement certain policies in order to obtain new loans (or to lower interest rates on existing ones). These policies are typically centered around increased privatization, liberalizing trade and foreign investment, and balancing government deficit. The conditionality clauses attached to the loans have been criticized because of their effects on the social sector. SAPs are created with the stated goal of reducing the borrowing country's fiscal imbalances in the short and medium term or in order to adjust the economy to long-term growth. By requiring the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Crisis Of 2007–08
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability asse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balance Of Payments
In international economics, the balance of payments (also known as balance of international payments and abbreviated BOP or BoP) of a country is the difference between all money flowing into the country in a particular period of time (e.g., a quarter or a year) and the outflow of money to the rest of the world. These financial transactions are made by individuals, firms and government bodies to compare receipts and payments arising out of trade of goods and services. The balance of payments consists of two components: the current account and the capital account. The current account reflects a country's net income, while the capital account reflects the net change in ownership of national assets. History Until the early 19th century, international trade was heavily regulated and accounted for a relatively small portion compared with national output. In the Middle Ages, European trade was typically regulated at municipal level in the interests of security for local industry an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mixed Economy
A mixed economy is variously defined as an economic system blending elements of a market economy with elements of a planned economy, markets with state interventionism, or private enterprise with public enterprise. Common to all mixed economies is a combination of free-market principles and principles of socialism. While there is no single definition of a mixed economy, one definition is about a mixture of markets with state interventionism, referring specifically to a capitalist market economy with strong regulatory oversight and extensive interventions into markets. Another is that of active collaboration of capitalist and socialist visions. Yet another definition is apolitical in nature, strictly referring to an economy containing a mixture of private enterprise with public enterprise. Alternatively, a mixed economy can refer to a reformist transitionary phase to a socialist economy that allows a substantial role for private enterprise and contracting within a dominant econo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Economy
A market economy is an economic system in which the decisions regarding investment, production and distribution to the consumers are guided by the price signals created by the forces of supply and demand, where all suppliers and consumers are unimpeded by price controls or restrictions on contract freedom. The major characteristic of a market economy is the existence of factor markets that play a dominant role in the allocation of capital and the factors of production. Market economies range from minimally regulated free-market and ''laissez-faire'' systems where state activity is restricted to providing public goods and services and safeguarding private ownership, to interventionist forms where the government plays an active role in serving special interests and promoting social welfare. State intervention can happen at the production, distribution, trade and consumption areas in the economy. The distribution of basic need services and goods like health care may be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross Domestic Product
Gross domestic product (GDP) is a money, monetary Measurement in economics, measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. Due to its complex and subjective nature this measure is often revised before being considered a reliable indicator. List of countries by GDP (nominal) per capita, GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation, inflation rates of the countries; therefore, using a basis of List of countries by GDP (PPP) per capita, GDP per capita at purchasing power parity (PPP) may be more useful when comparing standard of living, living standards between nations, while nominal GDP is more useful comparing national economies on the international market. Total GDP can also be broken down into the contribution of each industry or sector of the economy. The ratio of GDP to the total population of the region is the GDP per capita, p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sarajevo Twilight
Sarajevo ( ; cyrl, Сарајево, ; ''see names in other languages'') is the capital and largest city of Bosnia and Herzegovina, with a population of 275,524 in its administrative limits. The Sarajevo metropolitan area including Sarajevo Canton, East Sarajevo and nearby municipalities is home to 555,210 inhabitants. Located within the greater Sarajevo valley of Bosnia, it is surrounded by the Dinaric Alps and situated along the Miljacka River in the heart of the Balkans, a region of Southern Europe. Sarajevo is the political, financial, social and cultural center of Bosnia and Herzegovina and a prominent center of culture in the Balkans. It exerts region-wide influence in entertainment, media, fashion and the arts. Due to its long history of religious and cultural diversity, Sarajevo is sometimes called the "Jerusalem of Europe" or "Jerusalem of the Balkans". It is one of a few major European cities to have a mosque, Catholic church, Eastern Orthodox church, and synagog ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bosnia And Herzegovina
Bosnia and Herzegovina ( sh, / , ), abbreviated BiH () or B&H, sometimes called Bosnia–Herzegovina and often known informally as Bosnia, is a country at the crossroads of south and southeast Europe, located in the Balkans. Bosnia and Herzegovina borders Serbia to the east, Montenegro to the southeast, and Croatia to the north and southwest. In the south it has a narrow coast on the Adriatic Sea within the Mediterranean, which is about long and surrounds the town of Neum. Bosnia, which is the inland region of the country, has a moderate continental climate with hot summers and cold, snowy winters. In the central and eastern regions of the country, the geography is mountainous, in the northwest it is moderately hilly, and in the northeast it is predominantly flat. Herzegovina, which is the smaller, southern region of the country, has a Mediterranean climate and is mostly mountainous. Sarajevo is the capital and the largest city of the country followed by Banja Luka, Tu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
IMF Stand-By Arrangement
The IMF Stand-By Arrangement (SBA) is an economic program of the International Monetary Fund (IMF) involving financial aid to a member state in need of financial assistance, normally arising from a financial crisis. In return for aid, the economic program stipulates needed reforms in the recipient country aimed at bringing it back on a path of financial stability and economic sustainability. The SBA is a sub-set of IMF and World Bank programs aimed at Structural adjustment. Description IMF’s Stand-By Arrangement was created in June 1952 to provide financing to countries requiring help with balance of payments problems. The SBA has often been used by member countries and is the dominant lending instrument of the IMF, especially for emerging market countries. After a significant pause in such aid, the financial crisis that erupted in 2008 resulted in a large number of countries requiring such financial assistance from the IMF. The financing terms are normally more advantageous than p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Belgium
Belgium, ; french: Belgique ; german: Belgien officially the Kingdom of Belgium, is a country in Northwestern Europe. The country is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeast, France to the southwest, and the North Sea to the northwest. It covers an area of and has a population of more than 11.5 million, making it the 22nd most densely populated country in the world and the 6th most densely populated country in Europe, with a density of . Belgium is part of an area known as the Low Countries, historically a somewhat larger region than the Benelux group of states, as it also included parts of northern France. The capital and largest city is Brussels; other major cities are Antwerp, Ghent, Charleroi, Liège, Bruges, Namur, and Leuven. Belgium is a sovereign state and a federal constitutional monarchy with a parliamentary system. Its institutional organization is complex and is structured on both regional ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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