At the special press conference held today in Sarajevo, Central Bank Governor, Nicholl announced that BiH Convertible Mark will officially come into use on Monday June 22. BiH Dinars will be directly changed for KM, while Kuna and Yugoslav Dinar will be changed firstly to DEM and then to KM. Nicholle also informed the public on some errors printed on bills, but also said that economic advantages are bigger than the level of errors, so the bills will come into use anyway, except for the 1 KM bill where Ivo Andric’s name was written as “Andridz”, and it will be reprinted.
3:30
Kuwait Development Fund approved $16 million credit for BiH. The main purpose of the credit is financing of water and sewer system in Sarajevo, Srebrenik and Cazin. Agreement was signed by Federation Minister for Waters, Agriculture and Forestry Smajic and deputy of the Kuwait Development Fund General Manager, Al-Bader.
2:30
Minister of Foreign Trade and Economy, Kurtovic and Swiss Ambassador to BiH, Schmidt signed the agreement on telecommunications reconstruction in BiH. The agreement is worth 9.300.000 Swiss Franks and means are purposed for installation and modernisation of 83.000 telephone lines in both entities.
2:00
International Investors Conference, sponsored by Islamic Development Bank begins tomorrow in Sarajevo. Over 150 businessmen from Islamic countries will take part at the conference and their wealth is assessed to several tens of billions of US dollars.
2:30
BiH Presidency President Izetbegovic received the President of Islamic Development Bank, Mohammed Ali, who is leading the group of economists from Moslem countries at tomorrow’s conference on international investments to BiH. Izetbegovic asked his guest to encourage investors to invest in BiH.
1:30
CoM Co-chairman Silajdzic received a visit of Kuwait Investments Agency delegation. Delegation informed Silajdzic on negotiations about engaging the agency on projects in BiH.
1:00
CoM held a session today with the main subject of implementation the key laws; the Law on Division of BiH Budget for 1998, and the Law on CoM. One of the subjects at today’s session was also establishment of Independent Media Commission, appointed by OHR. It was agreed that CoM will appoint three members to the commission next week.
1:30
BiH Federation Prime Minister Bicakcic and his deputy Bilandzija continued their visit to USA. Bicakcic and Biladzija today held a meeting with the US Secretary of State, Albright, while the meeting with US National Security Councillor, Berger is scheduled for tomorrow. During yesterday meeting between Bicakcic, Bilandzija, BiH Ambassador to UN, Sacirbegovic and MPRI Company representatives, it was agreed to continue the “Equip and Train” programme that was recently suspended.
1:30
Two first contracts on buying of apartments were signed at the Federation Ministry of Defence. 2345 more apartments are anticipated to be bought.
2:00
Moscow announced a new “Cold War” if NATO decides to take a new military action in the Kosovo region without approval from UN Security Council. Moscow daily “Nezavisnaja Gazeta” says that Russian Ministry of Defence delivered to Yugoslavia detailed data on dislocation, weaponry and composition of the Kosovo Liberation Army, information on NATO military activities in the region and the analysis of possible scenarios for intervention. Clashes in Kosovo were continued today.
2:00
Session of the Temporary Executive Board of Srebrenica was held today in Srebrenica. Due to the absence of the RS Government representatives, session was characterised as a preparation session for the formal constitutive session that is to be held within three weeks. NATO Commander for Europe, Clark also visited Srebrenica today.
1:30
Mostar Mayor Orucevic addressed a letter to HR Westendorp and BiH Presidency President Izetbegovic, in which he asks from Westendorp to assist the relevant authorities and Trade Unions in preventing the danger that privatisation might become the sequel of ethnic cleansing by legalising ethnic economies.
1:30
HR Senior deputy Schumacher visited Prozor today, where he met with governors of Prozor and Bugojno municipalities and achieved the agreement on improvement of return process to the area of those municipalities.
1:30