First tranche from IMF on September 9

The Council of Ministers of BiH at an extraordinary session adopted the Decision on withdrawing the first tranche of the Extended Arrangement with the International Monetary Fund (IMF) in the amount of 154,155,170.11 KM and authorized the Minister of Finance and Treasury of BiH to issue a Promissory Note and carry out the necessary activities within their jurisdiction for the withdrawal of the first tranche, reports the BiH news agency Patria.

Of the funds in the amount of 154,155,170.11 KM, two-thirds are allocated to the budget of the Federation of BiH, and one-third to the budget of Republika Srpska. The entities will repay the debt in accordance with valid legal regulations.

It is expected that the first tranche should be transferred to BiH on September 9, 2016, after the IMF Executive Board approves the new Extended Arrangement for BiH on September 7 this year.

The new Extended Arrangement for Bosnia and Herzegovina is worth a total of 1,077,030,789.00 KM and will be approved in tranches over a period of three years.