However, at present, there is no question of a looming large-scale emerging markets crisis. The IMF staff are expecting activity in Germany, and in the euro area, too, to expand by around 2 per cent this year and next, and are forecasting an even stronger rate of growth for the United States.
On this road it is necessary that each institution should make a lot of efforts in order to reach the European standards. My pleasure is even larger, because the Central Bank of Bosnia and Herzegovina is among the first going in that direction.