BiH’s Finance Minister met with the Head of IMF Mission in BiH

June 11, 2019 3:00 PM

Deputy Chairman of the Council of Ministers of BiH and Finance and Treasury Minister Vjekoslav Bevanda met today with a delegation from the International Monetary Fund (IMF) headed by the Head of Mission in BiH Martino Petri.

At the meeting, it was noted that the formation of government remains a priority topic in BiH, but also a prerequisite for continuing the implementation of reforms planned under the IMF arrangement.

Minister Bevanda informed the IMF delegation that the Council of Ministers has so far adopted two quarterly decisions on temporary funding because the budget for this year has not been adopted, which is also a consequence of incomplete formation of the government.

It was highlighted that according to the Law on Financing of Institutions of BiH only the current expenditures necessary for the functioning of the institutions are realized, while external debt servicing is carried out in accordance with the repayment plan and the adoption of the budget for 2019 has no effect on it.

Interlocutors agreed that talks on future cooperation will be much more concrete once the process of forming a government in BiH is completed.

So far, two tranches of about 150 million BAM per tranche have been paid in the framework of an extended arrangement between BiH and the IMF, and the total value of the credit program is about 1.1 billion BAM.

The meeting was also attended by resident IMF resident in BiH Francisco Parodi, as well as his successor Andrew Jewel, who will take over from August this year.

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