Bevanda's promissory note arrives at the Central Bank, but the payment of 641 million KM has not yet been made

SARAJEVO, (Patria) - The Central Bank of Bosnia and Herzegovina has received the promissory note sent by the Minister of Finance of BiH, Vjekoslav Bevanda, confirmed by the Central Bank for Patria.

However, this ultimately does not mean that the payment of 641 million KM from the IMF, which was paid to BiH as aid in combating the coronavirus pandemic, will proceed, and it still cannot be transferred further to the entity ministries of finance.

The Central Bank is ready to transfer the money to the entity ministries of finance in the ratio of 68 percent to the Federation of BiH and 38 percent to the Republika Srpska (the entities would then need to allocate 0.5 percent each to the Brčko District), but for this, they additionally need a Decision of the Council of Ministers and instructions from the Ministries of Finance and the Brčko District according to the Memorandum.

The Central Bank can carry out the distribution of money exclusively in accordance with Article 2 of the Memorandum, which was signed on April 20 by the two entity and state ministers of finance, the director of the Indirect Taxation Authority, and the governor of the Central Bank of BiH, and aligned with the Letter of Intent to the IMF.