Minister Špirić with IMF Delegation on new Arrangement



Deputy Chairman of the Council of Ministers of BIH and Minister fo Finance and Treasury dr Nikola Špirić received a delegation for the International Monetary fund, led by head of Mission in BIH Costas Christou.

The meeting discussed a new IMF arrangement and on conditions to be fulfilled by the BIH authorities so that the IMF Board might approve a new programme for BIH by end September.

Minister Špirić informed the IMF representatives of the measures taken at BIH level, starting from the savings made by salary and other reimbursement cuts, to legislation amendments to the same end, including of the country’s fiscal stability. The Minister of finance and Treasury of BIH reminded that the 2013-2015 Global Fiscal Framework was adopted as well, which would enable a timely Budget adoption for 2013.

The meeting concluded that the level of a new loan arrangement with the IMF and tis term have not been decided yet, as it depends on credible policy implementation in the Entities.

It was emphasised that the BIH Fiscal Council will hold a session tomorrow, devoted to this new arrangement with the IMF.

The meeting was attended by Amit Friedman, Senior Advisor to the IMF Executive Director and Milan Cuc IMF Resident Representative in BIH.

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