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IMF may terminate loan arrangement with BiH: media

Xinhua, February 28, 2017 Adjust font size:

There was a possibility that the International Monetary Fund (IMF)'s loan arrangement with Bosnia and Herzegovina (BiH) would be terminated, if reforms in BiH failed to continue, local media reported on Tuesday.

During an interview with a local newspaper, BiH Finance Minister Vjekoslav Bevanda said that it was possible that the arrangement with the IMF would be canceled, as it was in the past.

"We all know that some obligations have not been met. But we will talk about it when the IMF mission come for an visit in next month," said Bevanda.

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. Endit