The European Union (EU) called on authorities of BiH not to endanger the extended arrangement with the IMF, for which they noted that is important for the implementation of the Reform Agenda, as confirmed by the EU Delegation in Sarajevo.
“We are confident that the authorities will recognize the seriousness of the situation and that they will achieve a satisfactory compromise in order to continue with the reforms. The IMF program is an important pillar of the Reform Agenda, which leads and supports the reform efforts of this country,” they said.
They added that the reforms for modernization of BH economy and improvement of the socio-economic situation of the citizens have no alternative.
“We achieved a lot in the past year and a half, but there is much more to be done,” they noted.
To recall, an important part of the Reform Agenda is the arrangement with the IMF and the projects with the help of the World Bank, that are aimed at correcting the economic and social position of BiH. Part of this agenda, for which the IMF is in charge, is mainly engaged in the financial system and the banking sector, and improvement of the creditworthiness of BiH for taking development loans, such as for the construction of the motorway network, while the World Bank is dealing with repairing the effective administration, economic sectors and reforms for correcting business environment.
Tatjana Proskurjakova, director of the World Bank, said recently that there is no direct connection between arrangements with the IMF and World Bank projects, but the cancellation of the arrangement with the IMF would mean stopped reforms, and that would reflect on the programs of banks in BiH.
To recall, the authorities noted that the arrangement is before termination, but they are shifting blame to each other.
The biggest, but not the only obstacle, for obtaining a second tranche of the extended arrangement is the adoption of the Law on Excises.
(Source: akta.ba)
