War veterans in Bosnia are being warned to accept laws tightening the criteria to obtain state benefit payments to help prevent the nation from collapse. The prime minister of Bosnia's Muslim-Croat region announced that the threat economic collapse for the nation is imminent is change does not occur.
Loans by the International Monetary Fund and the World Bank, which have already been considered in the nation’s two regions, may be redacted in the event the Muslim-Croat federation is not able to pass the limiting legislation by the end of February.
Parliament refused to confer about the changes in an emergency procedure to avoid protests by veterans, prompting Prime Minister Mustafa Mujezinovic to react.
"By rejecting the reform laws, we can expect economic collapse and a disastrous situation for all," he said.
In terms of what has to be done in order to quell the instability Mujeznovic named a variety of measures. "We shall have to make overall cuts, primarily cuts of wages of police, administration and all other budget beneficiaries."
The region will have until February 26 to pass laws more effective at targeting cash transfers to those most in need otherwise its $126 million loan from World Bank dedicated to social reform and budget support will be lost.
About EQUITIES:
Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on the Internet at www.equitiesmagazine.com, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.
Sign up for a free one-year subscription to EQUITIES Magazine.
