BUSINESS

165 Million Euros at Disposal for Bosnia and Herzegovina from IMF

 

Zoran Tegeltija, Chairman of the Council of Ministers of Bosnia and Herzegovina, held a meeting on Tuesday in Sarajevo with Andrew Juell, resident representative of the International Monetary Fund (IMF) in BiH.

The meeting discussed the possibilities of supporting Bosnia and Herzegovina in financing the consequences caused by the coronavirus, the Council of Ministers said in a press statment.

Joel informed Tegeltija that the IMF has made available 50 billion dollars in funding to all member states through a special credit line approved in an emergency or special circumstances, as currently announced in BiH, to declare the global pandemic of the coronavirus.

Accordingly, emergency or special situations are allocated to the IMF member states up to 50 percent of the quota paid, whereby BiH would make available around 165 million euros.

Considering that this is a special line of credit, in these cases an accelerated procedure for the implementation of the said arrangement applies, and it is expected that after completion of all procedures, funds approved by BiH may be operational in May.

Tegeltija thanked Joel for the IMF’s prompt response to the crisis in BiH and informed him that the appropriations were planned to be used for financing costs in the health system, as well as for direct support to the BiH economy, and expressed his readiness to The IMF has begun talks on a new arrangement for BiH.

 

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