Tegeltija discusses with IMF representatives: Board of Directors on April 6 regarding aid to BiH

SARAJEVO, (Patria) - Chairman of the Council of Ministers of BiH Zoran Tegeltija spoke today via video link with the Head of the IMF Mission in BiH Martin Petri and Resident Representative of the International Monetary Fund / in BiH Andrew Jewel about the current situation in BiH caused by the coronavirus pandemic (COVID-19).

During the conversation, Tegeltija informed the Head of the IMF Mission in BiH Petri about the situation in BiH regarding the health situation, as well as the economic consequences of the pandemic, and the possibilities for the response of the BiH authorities to protect the health and lives of citizens, recover the economy as soon as possible, and restore jobs.

IMF representatives informed the Chairman of the Council of Ministers of BiH about the certain increase in funds approved for BiH through the rapid financing instrument from 50% to 100% of the paid quota, i.e., from 165 million euros to 330 million euros, and emphasized that the Board of Directors will make a decision on this on Monday, April 6, 2020.

On this occasion, it was emphasized that it is extremely important for the entities to agree on the distribution of funds, because otherwise the deadline for the IMF Board of Directors to make a decision on this instrument will be postponed.

IMF representatives expressed dissatisfaction at the meeting with the fact that, when designing measures to support the economy, the entity governments did not consult or inform the IMF, nor other international financial institutions, even though significant support is expected from them in financing the defined measures.

Chairman Tegeltija thanked the IMF representatives for their quick response to BiH's request for approval of urgent funds, and expressed his expectation that the entities will agree on the distribution of approved funds in order to meet the deadlines and make the funds available to the entities and Brčko District as soon as possible.