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IMF postpones release of second loan tranche to BiH

Xinhua, February 11, 2017 Adjust font size:

The International Monetary Fund (IMF) has postponed the release of the second tranche of the loan for Bosnia and Herzegovina (BiH) because of the country's failure to meet the required reforms, local media reported on Friday.

"We cannot expect the formal completion of the first review in February because there are delays in the completion of previous actions," said Francisco Parodi, the IMF Resident Representative in BiH.

In September 2016, the Executive Board of the IMF approved a three-year 553.3 million euros (587 million U.S. dollars) extended loan arrangement for BiH to support the country's economic reform agenda.

The Executive Board's decision has enabled an immediate disbursement of about 79.2 million euros to BiH, and the remainder will be available in 11 installments subject to quarterly reviews.

Completing the arrangement with the IMF will have to be accompanied by reforms that will serve to support the implementation of the reform agenda in BiH, according to reports. Endit