The International Monetary Fund (IMF) will allocate Bosnia and Herzegovina (BiH) funds in the amount of 63.4125 million SDR (approximately 76 million euros or 148.4 million BAM), it is announced after the visit of the IMF BiH Mission.
IMF mission visited Sarajevo in the period from December 19th to December 22nd 2017 to discuss the first review of the program which will receive support from the Extended Fund Facility (EFF) funding for the extended arrangements.
“The staff of the IMF and the authorities in BiH have reached an agreement, subject of the approval of the IMF Executive Board, regarding the policies that will allow IMF staff to recommend the conclusion of a first review of the extended arrangement within the IMF EFF funding for the extended arrangements. By fulfilling a number of conditions, it is expected that the Executive Board will consider the conclusion of the first review in early 2018, “ said Nadeem Ilahi, Head of Mission for BiH, at the end of the visit.
“The authorities have already met several conditions over the past few months. Recently, the Parliamentary Assembly of BiH adopted an increase in excise tax on fuel, which will unblock large investment in infrastructure, funded from external sources. Furthermore, the National Assembly of Republika Srpska adopted the budget for 2018, in accordance with the recommendations of the IMF staff. In the coming days, the authorities remain committed to the fulfillment of the remaining conditions. The Parliament of Federation of BiH (FBiH) is expected to adopt the budget for 2018 in accordance with the recommendations of the IMF staff, and the Government of FBiH is expected to start a due diligence for two telecom companies owned by the FBiH, BH Telecom and HT Mostar, “ Ilahi said.
It is expected that, upon approval of the Executive Board and conclusion of the review, the IMF will allocate funds in amount of 63.4125 million SDR (approximately 76 million euros or 148.4 million BAM).