IMF Postpones Consideration of the Extension of Stand-By Arrangement

The Main Board of the IMF will not meet on 22 January, as it was expected, nor will it consider the extension of the Stand-By Arrangement of the FB&H. The next meeting is not scheduled, because there is no authorized person that would sign the letter of intent. There are still no solutions to replace the ousted FB&H Minister of Finance Ante Krajina, writes federalna.ba.

IMF warns again: ‘’For the implementation of economic policies in 2014, which the IMF can support as part of the Stand-By Arrangement, it is crucial to have a fully operational and functional FB&H Ministry of Finance. As part of the Stand-By Arrangement, there are several initiatives that require an active role and support of the FB&H Ministry o Finance, including the Minister of Finance. We continue to closely monitor the situation. A quick solution would enable the continuation of procedures for the consideration of the fifth review of the Stand-By Arrangement’’, said in a statement of the IMF Resident Representative to B&H Ruben Atoyan.

Now it is all up to the FB&H Constitutional Court, which should offer a temporary solution to get out of the financial blockade or, eventually, possibly challenge the decision of the FB&H President Živko Budimir on the removal of Ante Krajina from the FB&H Minister of Finance position.

(Source: ekapija.ba)