One currency for Bosnia: creating the Central Bank of Bosnia and Herzegovina
Sarajevo -- Dayton -- Background -- IMF role -- Currency board arrangements -- Final agreement -- Developing the central bank law -- Our first meeting -- The second meeting -- November meetings -- The payment bureau system -- Bank payment systems -- The post-war system in Bosnia -- Cash settlement -- Adopting the central bank law -- Steve Hanke -- February 1997 mission -- The outcome -- Preparations for the central bank's start up -- The June 1997 mission -- John Dalton's visit -- The opening -- My arrival in Sarajevo -- The bank briefing -- The final Friday for NBBH as a monetary institution -- The last weekend -- Monday, August 11 -- Tuesday, August 12 -- Wednesday, August 13 -- Thursday, August 14 -- Friday, my last day -- The more complete "opening" -- Immediate issues -- Croat complaints -- The NBBH problem solved again -- Opening the main units -- New bank notes -- Promoting the KM -- Payment bureau reform -- The transformation strategy -- Mostar and Dubrovnik -- David Whitehead -- Kim Rhee -- Farewell Sarajevo -- Lessons learned -- Planning and donor coordination is required -- Short-term needs and long-run development -- There are no blank slates -- Policies must reflect capabilities -- Political support for reforms is needed -- Postscript -- Appendix I: The main monetary policy regimes -- Appendix II: The quantity theory of money -- Appendix III: designs for KM bank notes -- Appendix IV: the nature of money