The High Representative urges the Constitutional Court to address the conflict created by the RS Frozen Foreign Currency legislation and the BiH Law on Frozen Foreign currency savings within the shortest possible deadline. Without a decision from this body there will be no legal certainty for frozen currency savers throughout Bosnia and Herzegovina.
Since April 2006 state level legislation has been in place to address the issue in a unified manner throughout the whole territory of Bosnia and Herzegovina by issuing a single bond to all savers. The Republika Srpska, by introducing its own Law on Frozen Foreign Currency Savings in January 2008, established a separate system whichdirectly contradicts the BiH Settlement Law.
The longer a Constitutional Court Decision is delayed, the greater the legal uncertainty will be for Frozen Foreign Currency Savers throughout Bosnia and Herzegovina, including bondholders the RS, those who have already bought or are thinking of buying RS bonds, and the savers in the Federation of BiH and the District of Brcko who are waiting for bonds to be issued in settlement of the claims.