IMF approves 330 million euros for Bosnia and Herzegovina

(Patria) - The Executive Board of the International Monetary Fund (IMF) in Washington has approved a loan of 330 million euros for Bosnia and Herzegovina to combat the coronavirus pandemic, which was requested by our country in a letter of intent, it has been confirmed for Patria.

An official statement and announcement are expected, which will surely contain some details that will be brought to the attention of the BiH authorities.

An agreement on the distribution of money was reached earlier at a meeting between the leaders of SNSD, Milorad Dodik, HDZ BiH, Dragan Čović, and SDA, Bakir Izetbegović, and that was after pressure from the international community.

38 percent belongs to Republika Srpska, 62 percent to the Federation of BiH, while both RS and the Federation will give Brčko District half a percent each from the amount they receive.

A coordination body will also be formed at the BiH level, which will decide on further economic measures, as well as monitor the distribution of money from the IMF.

At the session, attended by all members of the BiH Fiscal Council, a Letter of Intent with the International Monetary Fund (IMF) was agreed upon, by which BiH is seeking financial support within the framework of the rapid financing instrument, as part of efforts to curb the spread of coronavirus.

The IMF funds will also be used to finance the implementation of the Law on Mitigating Negative Economic Consequences.