Bosnia and Herzegovina's current debt to the IMF is 308 million KM

SARAJEVO, (Patria) - Bosnia and Herzegovina's current debt to the International Monetary Fund amounts to a total of 126,825,000 in Special Drawing Rights (SDR), or about 308 million when converted to convertible marks. According to the latest data from the Central Bank of BiH, this debt relates entirely to the EFF extended fund facility, which BiH has with the IMF for the period from 2016 to 2019.

Data from the Central Bank also shows that BiH no longer has any debt to this international financial institution based on any of the total of 4 stand-by arrangements approved for it in the previous period, starting from 1998.

A total of about 2.24 billion KM has been repaid to the IMF since then.

The last, fourth stand-by arrangement of the IMF for BiH was approved in September 2012, and BiH drew a total of 422,750,000 in Special Drawing Rights based on it, which today amounts to slightly more than one billion convertible marks. BiH repaid the last installment of this debt this summer, on July 2.

Stand-by is an IMF financial arrangement approved for member countries facing balance of payments disturbances. Funds for the arrangement are provided from general resources under conditions agreed upon by the member with the IMF through reform programs defined in the member's Memorandum on Economic and Financial Policies and Letter of Intent. The Stand-by arrangement is approved by the IMF Executive Board. The arrangement usually lasts two years and three months, funds are approved in phases in tranches (loan installments), and each tranche is repaid in eight equal quarterly installments. The approval of a tranche is preceded by a review conducted by an IMF mission on the fulfillment of conditions and progress achieved in accordance with the agreed reform program for the previous period.

EFF is an extended IMF financial arrangement approved for member countries facing balance of payments disturbances. Funds for the arrangement are provided from general resources under conditions agreed upon by the member with the IMF through reform programs defined in the member's Memorandum on Economic and Financial Policies and Letter of Intent. The EFF arrangement is approved by the IMF Executive Board. The arrangement usually lasts three years (a maximum of 4 years), funds are approved in phases in tranches (loan installments), and each tranche is repaid in twelve equal semi-annual installments. The approval of a tranche is preceded by a review conducted by an IMF mission on the fulfillment of conditions and progress achieved in accordance with the agreed reform program for the previous period.