Serb labour law

BANJA LUKA: Facing down trade unions and opposition lawmakers, Bosnia’s autonomous Serb Republic on Tuesday adopted a new labour law sought by the International Monetary Fund (IMF) in return for fresh funds for the cash-strapped country. The new law introduces more flexible labour practices and underpins a raft of legislative changes to secure badly-needed funds from IMF and EU, which has launched a new effort to encourage economic and political reform in Bosnia in exchange for closer ties with the bloc. Trade unionists said the law would make it easier for firms to fire workers in a country already mired in high unemployment. They argued it would take away some of the benefits they enjoyed under previous legislation and give broader powers to employers.