Bosnia and Herzegovina reached an agreement with the International Monetary Fund (IMF) on a new three-year arrangement amounting to one billion and 50 million BAM, confirmed the Chairman of the Council of Ministers of BiH Denis Zvizdić, who is currently in Washington with the BiH delegation.
“The Agreement will be finalized during IMF’s visit to Bosnia and Herzegovina in May. We have asked for an extended three-year arrangement amounting to one billion 50 million BAM, with a favorable repayment period and minimum interest rate. I believe we will get those funds,” Zvizdić said.
Apart from Zvizdoć, the meeting with the IMF was also attended by the Prime Minister of Republika Srpska Željka Cvijanović and Minister of Finance of RS Zoran Tegeltija.
Governor of the Central Bank of Bosnia and Herzegovina Dr. Senad Softić was staying in Washington where he, as a member of BiH delegation at spring meetings of the International Monetary Fund and the World Bank, talked with the highest officials of the IMF and the World Bank. The talks referred to the situation in the country and economic situation in the light of preparations for the upcoming arrival of the IMF Mission and the signing of the Letter of Intent on the Extended Fund Facility.
Participants of these meetings pointed to the importance of preserving the currency board and monetary stability, as well as the stability of banking and finance sector in general. Governor Senad Softić highlighted that it is necessary that the future program with the IMF is reform-oriented and that it results in the improvement of the current situation in economy and the banking and finance sector in BiH.
During these meetings, especially pointed out was the need for better banking coordination and more active participation of all actors in financial and banking system – the Central Bank of BiH, the entity banking agencies and the Deposit Insurance Agency of BiH, in terms of mutual cooperation and joint coordinated operating.
(Source: klix.ba)
