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High representative in BiH wants frozen foreign currency issue resolved

13/05/2008

SARAJEVO, Bosnia and Herzegovina (BiH) -- High Representative Miroslav Lajcak urged the BiH Constitutional Court on Monday (May 12th) to address conflicts arising from the existence of two laws -- at different levels of power -- that deal with the frozen foreign currency debt. The court must rule quickly to address ambiguities, Lajcak said. In January, Republika Srpska (RS) adopted its own legislation and introduced a separate system, derailing the original plan to address the debt on the state level. "The longer a constitutional court decision is delayed, the greater the legal uncertainty will be for frozen-foreign-currency savers throughout BiH, including bond-holders in the RS, those who have already bought or are thinking of buying RS bonds and savers in the Federation of BiH and the District of Brcko who are waiting for bonds that would settle the claims," Lajcak said. (OHR, RTRS, SRNA - 12/05/08)

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