After the adoption of the coordination mechanism and signing of the Letter of Intent to the IMF for a new credit agreement, Minister of Finance and Treasury in the Council of Ministers of BiH, Vjekoslav Bevanda, said that he expects the IMF to respond positively already on the meeting that will be held on the 7th of September.
“We finally agreed on the coordination mechanism that involves all levels of government in BiH in accordance with their constitutional competencies. Since the very beginning, I insist that those who have constitutional responsibility for a specific area, except liabilities, are also responsible for taking the job so it is quite natural for them to be involved in the decision making and implementation,” said Deputy Chairman of the Council of Ministers and Minister of Finance and Treasury in the Council of Ministers of BiH, Vjekoslav Bevanda after the Council of Ministers of BiH yesterday adopted the new coordination mechanism.
After the opportunity that the IMF decides on a new arrangement for BiH in July was missed, they expect a new decision in September, since the Letter of Intent was signed.
“Unfortunately, due to our internal disputes we lost the opportunity for the decision of the IMF on a new arrangement in July, but I expect to get a positive response at the next session of the Committee of the IMF, which will be held on the 7th of September, since the Letter of Intent was signed, and to get a new program that is worth 550 million EUR. It is already known that this money is used by the entities, but the new program also includes structural reforms in many areas that represent our weak points and need to be reformed. This time, we are looking for a three-year arrangement in accordance with the rules of the extended arrangement, and it is no longer a stand-by arrangement that we used before,” said Bevanda.