IMF will not pay the Second Tranche until All Obligations are fulfilled?

January 14, 2017 10:15 AM

imfDelays of BiH authorities in meeting the defined measures will prolong the payment of the second tranche of the extended arrangement with the International Monetary Fund (IMF), said IMF resident representative in BiH, Francisco Parodi.

He said that the second tranche should amount to around 155 million BAM and that the two-thirds of the money belong to the FBiH and one-third to the RS.

Parodi said that the IMF will recommend the conclusion of the first review in regard to the extended arrangement when the government realizes a series of measures agreed in November last year.

According to him, the authorities committed to implementing a credible set of measures, which will not only result in the release of the second tranche but will also be beneficiary to BiH and help increase economic growth and create new workplaces.

He reminded that the list of tasks includes reduction of public spending, control of employment, an increase in excise duties on petroleum products such as liquefied petroleum gas and biofuels to 15 fenings per liter.

Parodi also said that the authorities in the FBiH should sign contracts with international consultants for the implementation of operational and financial analysis for BH Telecom and HT Mostar, with the aim of their reconstruction or sale of their shares.

He emphasized that the RS adopted amendments to the Law on Income Tax, which is compliant with the law of FBiH, and he was pleased that the National Assembly already adopted the new Law on banks and amendments to the Law on Banking Agency of the RS, adding that they are expecting the parliaments of BiH and FBiH to adopt legal acts that apply to them in the upcoming weeks.

(Source: fokus.ba)

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