The Council of Ministers at its session adopted a decision on the withdrawal of the seventh and eighth tranches from the fourth Stand-By arrangement with the International Monetary Fund (IMF) and authorized the Ministry of Finance and Treasury to issue a promissory note in the amount of 370,058,320.84 BAM.
From the funds of the seventh and eighth tranches in the amount of 185,029,160.42 BAM, two-thirds have been allocated to the budget of the Federation of BiH and one-third to the budget of RS and repayment of this debt shall be conducted by the entities in accordance with existing regulations.
The IMF has approved additional amount with the eighth installment in the same amount of 185,029,160.42 BAM to mitigate the consequences of the May floods.
Of these funds, two percent goes to Brčko District, and 49 percent to each of the entities.
The seventh and eighth tranche are a kind of confirmation that the authorities in BiH have fulfilled earlier reform commitments agreed with the representatives of the IMF, announced the Information Service of the BiH Council of Ministers.
(Source: Fena)
