Novalic: The IMF Tranche belongs to the regular Revenue of the FBiH Budget

Prime Minister of the Federation of Bosnia and Herzegovina (FBiH), Fadil Novalic, said yesterday that a new tranche of the International Monetary Fund (IMF) belongs to the regular revenue of the FBiH budget and it is intended for the general consumption.

“The IMF is exclusively for a budget support, while everyone else helps, among other things, energy, development or agriculture, “ he explained.

If there is no tranche of the IMF, Novalic added, bonds or treasury bills would be issued, or it would be needed to borrow from a free market.

The Executive Board of the IMF concluded on Friday a first overview of the economic performance of BiH under the Extended Fund Facility (EFF), so BiH received an amount of 63.4 million SDR (about 74.6 million euros), making the total amount the funds currently disbursed to 126.8 million SDR (149.3 million euros).

As announced by the IMF Resident Representative’s Office, the Executive Board approved a three-year arrangement under the EFF for BiH on November 7th 2016, in the amount of 443.042 million SDR (approximately around 533.3 million euros at the time the arrangement was approved).



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