Home Bosnia and Herzegovina Withdrawal of IMF Funds Not Agreed

Withdrawal of IMF Funds Not Agreed


The Council of Ministers failed to make a decision on withdrawing the funds of Rapid Financing Instrument /RFI/ from the International Monetary Fund /IMF/ today in a special telephone session aimed at financing the increased requirements of the health sector and economic stabilization measures.

The ministers of foreign affairs Bisera Turković, security Fahrudin Radončić and defense Sifet Podžić, and Deputy Minister of Human Rights and Refugees Dževad Mahmutović did not vote in favor.

The Council of Ministers has decided to authorize Minister of Finance Vjekoslav Bevanda to issue a promissory note for withdrawal of RFI funds from the IMF in the amount of 265.2 million Special Drawing Rights in the Convertible Mark at the exchange rate on the day of withdrawal, the Council of Ministers announced.

The Ministry of Finance and Treasury is obliged to submit a promissory note to the Central Bank of BiH, and the funds withdrawn on this basis will be allocated via a special decision by the Council of Ministers, in accordance with the signed Letter of Intent.

The decision enters into force on the day of its adoption and will be published in the “Official Gazette of BiH”, the Council of Ministers announced.


Source: srna


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