Moody's: Bosnia and Herzegovina face challenges

Moody's Investors Service said in a new report that Bosnia and Herzegovina's Ba3 foreign-currency bond ceiling and B2 local- and foreign-currency government bond ratings reflect the persistent political and economic challenges facing the country, including multiple layers of government, ethnic tensions and a narrow economic base.

Nonetheless, sustained economic growth has been supporting gradual real convergence, albeit at a slow pace and the government's debt burden remains moderate, the agency said.

Although the country has undergone a consistent economic recovery over the past 10 years, it is the second-poorest country in the Western Balkans and its economic diversification is weak, Moody's said.

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