Council of Ministers of Bosnia and Herzegovina Holds Its 103rd Session

COUNCIL OF MINISTERS DECISED ON DRAWING IMF STANF-BY ARRANGEMENT SEVENTH AND EIGHTH TRANCHE 

The Council of Ministers, at its 103^rd session, took a decision to draw the seventh and eight tranche of IV Stand-by Arrangement with the Internaitonal Monetary Fund, and authorised the Ministry of Finance and Treasury to issue a promissory note of total value of KM 370,058,320.84.

 

Out of seventh and eighth tranche funds in amount of KM 185,029,160.42, two thirds will be allocated to the Federation of BIH Budget and one third to Republika Srpska Budget, and the debt will be repaid by the Entities, in compliance to the existing regulations.

 

The IMF approved additional borrowing with the eighth tranche in the same amount of KM 182,029,160.42 for rehabilitation needs after May 204 floods. These funds will go to the Entities in 49% and to the Brčćko District of BIH in 2% ratio.

 

The seventh and eighth tranches are a proof that BIH made-up its earlier assumed reform commitments agreed with IMF representatives.                                                                                                            (end)