Minister Vrankić Talks with IMF Mission Chief Costas Christou



Deputy Chairman of the Council of Ministers of BIH and Minister of Finance and Treasury Dragan Vrankić talked in Sarajevo today with Head of Mission of the International Monetary Fund in BIH Costas Christou on macroeconomic situation in BIH, the effects that financial and macroeconomic developments in Euro zone make in BIH, fiscal position of BIH Institutions and of lower level authorities, and  2012-2014 Fiscal Balance and Policies Global Framework of BIH. Minister Vrankić informed the representative of the International Monetary Fund of the problems of functioning of BIH Institutions under the temporary financing regime in the current year.

Both sides emphasised a need for consensus within the Fiscal Council of BIH for the reason as soon as possible adoption of the Fiscal Global Framework and Budget of BIH institutions for 2012, to secure a minimum level of funds required for execution of basic activities of BIH Institutions, especially in consideration of country’s Euro-Atlantic integrations. As for the arrangement of BIH with the IMF, it was concluded that the Fiscal Council is required to reach an agreement on necessary budget adjustments of all level authorities, so that a possible new programme might be discussed with the IMF.

Representatives of the International Monetary Fund will be present at the next session of the Fiscal Council, to be held on November 22.

The meeting was attended by IMF Resident Representative Mila Cuc and Assistant Minister of Finance and Treasury for Budget of BIH Institutions Vlatko Dugandžić.

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