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New labor law is not a prerequisite for IMF


Adoption of the new entity labor law is not a prerequisite for the completion of the 6th review under the stand-by arrangement, but the International Monetary Fund IMF hopes that the government will be fit to launch this important reform this year, said the IMF Resident Representative in B&H, Ruben Atoyan.

He said that this international financial institution believes that more time might be needed for discussion with social partners, but that the high rate of unemployment requires that this problem be solved in a systematic way.

Atoyan added that it is necessary for B&H to become attractive to foreign investors in order to reduce the unemployment rate and that macroeconomic stability is essential for attracting investors.

Firstly, additional efforts must be made in improving the business environment by facilitating the process of opening and operating a company, explained Atoyan.


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