Regulation of banking sector and better cooperation between tax administrations in BiH are the two conditions in the special focus of the International Monetary Fund (IMF).
“BiH has an intention to ask for a 3-year arrangement under the rules of the enlargement arrangement from the IMF, in the amount of funds that correspond to the quota that BiH has and which should be withdrawn in the next 3 years. In order to fulfill the requirements of this arrangement, we have to implement all the measures from the Letter of Intent, therefore, previous conditions that we agreed and most of which are already implemented,” said Chairman of the Council of Ministers of BiH Denis Zvizdic from Washington, where he participated on the spring meetings of the International Monetary Fund and the World Bank.
The two conditions that are not implemented yet remained in the special focus of the IMF.
“One of them is the question of the banking system and there were talks, not about the specific or individual banks, but the general way of how to regulate the banking system in order to increase its efficiency and transparency and prevent problems in the future that we had in previous months with Bobar Bank or Bank of Srpska. We talked primarily about the relationship of the Agency for Deposit Insurance and Banking Agency, i.e. the intention and the idea to define the regulator that would perform and create a kind of constant and thorough review of asset quality in all banks all the time, which would permanently disable the surprises that we have witnessed in the last few months,” said Zvizdic.
The second condition was more efficient, better quality and faster cooperation between tax administrations in BiH, which would eliminate the risks of non-compliance by tax payers.
These are the two key conditions that our country must fulfill before the arrival of the IMF mission in BiH in late May or early June this year.
“In the conversations, IMF representatives said that the arrangement will be approved when they approve a model that will solve the problem that exists in the Bank of Srpska. The specific model has not been defined yet, but it will certainly go towards the preservation of the banking system and the capacity of the Agency for Deposit Insurance, and maintaining the confidence of customers in this kind of banks,” concluded Zvizdic.
(Source: akta.ba)
