Bosnia and Herzegovina, due to a weak economy and risky environment, remains with the existing credit rating that was assessed as B 2 back in 2006, confirmed the central bank of Bosnia and Herzegovina on Friday.
The international rating agency Moody’s Investor Service, as explained in the statement, published its annual report on Bosnia and Herzegovina for 2009, stating that the country retains a B2 credit rating with stable outlook. Moody’s assesses that Bosnia and Herzegovina continues to be burdened by weak economic and institutional strength of the state, insufficient financial strength of the authorities, and a high level of sensitivity to risks. In its assessment, Moody’s notes that despite these negatives, the economy in Bosnia and Herzegovina is still resisting the global crisis, although a significant recovery is not expected in the near future. This rating agency expects slower economic growth in Bosnia and Herzegovina compared to the period up to 2008, primarily influenced by limited export opportunities as well as new investments and consumption. Moody’s particularly warns that the overall situation in Bosnia and Herzegovina could become even more complex due to the fact that elections will be held in the country this year, as well as the continuation of existing political tensions. (H)
