Minister Bevanda and Executive Director Snel Discuss New IMF Programme



Deputy Chairman of the Council of Ministers of BIH and Minister of Finance and Treasury Vjekoslav Bevanda talked in Sarajevo with Executive Director of the International Monetary Fund Menn Snel on previous, as well as future arrangements with his financial institution and on implementation of started reform efforts.

Executive Director Snel arrived to Bosnia and Herzegovina upon an invitation of Minister Bevanda, who is BIH Governor in the IMF.

They agreed about the visible progress of reforms made in BIH since their last meeting in Lima last October during the WB/IMF Annual Meetings.

Minister Bevanda noted on-going negotiations with the IMF on continuation of cooperation with BIH, which would be realised this time though an enhanced IMF programme to include more serious and longer term reforms in several areas.

According to Minister Bevanda, cooperation with the IMF through previous stand.-by arrangements yielded certain results in reform implementation, however it necessitates more decisive fulfilment of requirements agreed to in the Letter of Intent.

During the talks on the new IMF programme, intensified activities were mentioned on making agreement on the Letter of Intent, including considerations on a quotas increase, which would be important for BIH.

The meeting emphasised that the submission of BIH application  for membership in the EU and implementation of the Reform Agenda Action Plan as good opportunity to continue cooperation wit the IMF under the process of launched reform implementation.

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