New Tranche of 190 Million Euro for B&H

We expect that the Executive Board of the International Monetary Fond (IMF)  to approve 190 million euro loan until the end of month. It is about 95 million euros from the sixth and seventh tranche of the stand by arrangement and the same amount for the rehabilitation of flood damages, announced for “Dnevni Avaz” Ruben Atojan, the IMF Resident Representative for B&H.

He confirmed that this organization is satisfied with the decision of the House of Peoples of the State Parliament to be adopted the increase in excise on tobacco and the law against money laundering and terrorist financing.

“These steps led us to the decision to release the sixth and seventh tranche of stand-by arrangement. Our requirement was also to be adopted the amendments to the Criminal Code of B&H. As far as we have understood, it will take a little more time for adjustments and hopefully that law will be adopted relatively quickly”, said Atojan for “Avaz”.

Changes in excise duty on tobacco and adoption of law against money laundering and financing terrorism were enough for IMF to conclude that are achieved conditions for “unfreezing” two tranches of the IMF loan to B&H. These two tranches are expected to be paid before the end of the month.

(Source: Fena)