Regional envoy warns economic crisis could spark new political turmoil in Balkans

SARAJEVO, Bosnia and Herzegovina (BiH) – The economic crisis could lead to social unrest and new political turmoil throughout the Balkans, Hido Biscevic, head of the Sarajevo-based Regional Co-operation Council for Southeast Europe, told Reuters on Wednesday (April 1st).

Noting that both BiH and Serbia have already asked the IMF for assistance, he said the situation in the rest of the region is no brighter. Overall, the effect of the crisis will be much more serious than expected and political tensions are rising, Biscevic warned.

He added that his organisation is proposing a New Deal for the Balkans — a fund that would help finance major infrastructure projects. Biscevic added that the European Commission has agreed to provide 150m euros and talks are underway with the European Bank for Reconstruction and Development and the European Investment Bank for an additional 500m euros in financing.

Check Also

Romania, Bulgaria, Greece FMs discuss regional cooperation

The meeting of foreign ministers of the Romania-Bulgaria-Greece trilateral cooperation format represented an opportunity to …