Failure to reach an Agreement in Bosnia and Herzegovina will result in delayed IMF Assistance of 330 Million Euros

April 9, 2020 4:45 PM

 

Andrew Jewell, a resident representative of the International Monetary Fund (IMF) in Bosnia and Herzegovina, said the IMF is ready to provide BiH with 330 million Euros to mitigate the coronavirus crisis under the Rapid Financing Instrument (RFI).

Following the Executive Board’s decision to increase the amount of emergent assistance available to member countries, the IMF is now ready to provide Bosnia and Herzegovina with 330 million Euros to fight the coronavirus crisis, under the Rapid Financing Instrument (RFI).

He recalled that before the RFI could be approved, the authorities must first agree on how the funds would be split between the two entities.

“Failure to reach an agreement will result in delayed assistance. The Executive Board currently has more than 90 emergent requests, and it may be difficult to find another date in the near future when the Committee may consider BiH’s request. We encourage the authorities to work together to reach an agreement as soon as possible,” Jewell said.

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