Representative of IMF in BiH comments on Next Loan Tranche

November 26, 2018 4:00 PM

The Resident Representative of the International Monetary Fund (IMF) in Bosnia and Herzegovina Francisco Parodi said that the financial arrangement of IMF and BiH is in the intermission until the formation of new government.

“In the upcoming months, we do not expect neither to conclude the review, nor to allocate the resources. We are waiting for the formation of new government,” Parodi told to Dnevni Avaz local newspapers.

Parodi added that after the new government is formed, the IMF will be able to understand more about the priorities when it comes to economic policy and reforms.

For that reason, he could not talk about the possible new tranche of the IMF loan.

When it comes to BiH economy, Parodi said that the economy is cycling – annual growth of about three percent is achieved, a low inflation rate is registered, and unemployment is declining.

“The budgets are in surplus, and the banking system is in good condition, but BiH can and must do much more,” Parodi said, highlighting that more reform efforts are needed.

To achieve this, it is necessary to reduce unnecessary bureaucracy, continue simplifying the tax law and face the problem of non-competitive state-owned enterprises that slow down the rest of country’s economy.

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