By takumihamano 
The topic of Russia’s gold trade has garnered significant attention in recent years, particularly in light of the country’s economic strategies and geopolitical maneuvers. This article delves into the latest developments and their implications for Russia and the global market.
- Central Bank of Bosnia and Herzegovina Increases Gold Reserves: The Central Bank of Bosnia and Herzegovina (CB BiH) has significantly increased its gold reserves in 2024, aligning with a new strategic objective. As of February 2025, monetary gold comprised approximately 3.5% of the CB BiH’s total foreign exchange reserves. This represents the highest amount of monetary gold the CB BiH has ever held since its founding. The CB BiH’s gold holdings are influenced by fluctuating gold market prices and daily changes in overall foreign exchange reserves based on domestic currency demand. Legal limitations restrict the CB BiH’s investment options for foreign exchange reserves; gold, even with a relatively small percentage, contributes to diversification. Gold is considered a preferred asset for hedging against geopolitical and financial risks, thus positively contributing to portfolio diversification and mitigating financial and credit risks.
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Bosnia’s Viaduct Debt and Potential Seizure of Assets: Bosnia and Herzegovina (BiH) faces a significant financial challenge due to an unpaid multi-million EUR debt to the Slovenian company Viaduct. The debt includes daily accruing interest, and Viaduct has obtained a favorable ruling from the International Centre for Settlement of Investment Disputes. Viaduct’s legal representative states they can seize Bosnian and foreign state assets to recover the debt. Two mechanisms exist for debt collection: voluntary payment and forced seizure. Viaduct proposes a three-month payment plan to avoid further interest charges, saving Bosnia and Herzegovina approximately EUR 800,000. This proposal includes halting all enforcement proceedings in Bosnia and Herzegovina, and immediately halting proceedings in Belgium and Luxembourg upon full payment.
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Bosnia’s Highway Deficit and Economic Impact: Bosnia and Herzegovina (BiH) has one of the lowest highway densities in the region, with Corridor Vc highway construction progressing slowly. Political decisions, rather than expert opinions, are influencing construction speed. Capacity is overestimated, and deadlines are consistently missed. This slow progress in infrastructure development can have significant economic implications, potentially affecting trade and investment in the region.
In summary, the developments in Bosnia and Herzegovina’s gold reserves, the financial challenges posed by the Viaduct debt, and the slow progress in highway construction highlight the complex economic landscape in the region. These factors not only impact Bosnia and Herzegovina but also have broader implications for the global market, particularly in the context of Russia’s gold trade and economic strategies.