The agreements signed during president Medvedev’s visit to Belgrade not only reinforce Russia’s economic influence over Serbia, but also demonstrate that relations between the two will not be impeded or diminished by Serbia’s accession towards Europe.

Whilst two recently published reports on reform and competitiveness demonstrate progress by several Western Balkan countries, further structural reforms are required to mitigate the impact of the global economic downturn.

The Federation of Bosnia and Herzegovina’s failure to implement public spending reductions is jeopardizing the country’s stand-by agreement with the IMF.

The global financial crisis has both magnified and exacerbated the shortcomings of the Federation of Bosnia and Herzegovina.