IMF Ban: No Conversion of Swiss Francs to Euros!

Chairman of the Council of Ministers of Bosnia and Herzegovina Denis Zvizdić recently confirmed that the Letter of Intent for a new extended arrangement with the IMF has been agreed upon. He added that the new arrangement with the IMF should be the most favorable so far for Bosnia and Herzegovina. Zvizdić explained that it is a three-year credit arrangement worth around 550 million euros, with a grace period of 4.5 years.

However, the Letter of Intent is being kept secret, and today SDP MP Saša Magazinović requested at an urgent session of the House of Representatives that the agenda include information from the Council of Ministers of Bosnia and Herzegovina on the content of the Letter of Intent for the new arrangement with the International Monetary Fund, Patria reports.

Magazinović said that the Council of Ministers of Bosnia and Herzegovina should inform parliamentarians and the public in Bosnia and Herzegovina about the obligations they have accepted in exchange for IMF money. He added that this is not a secret document and that the request for this agenda item is based on urgency and justification. This agenda item was not accepted, but it is speculated that the Letter of Intent contains many questionable items that could significantly harm the citizens of Bosnia and Herzegovina.

Magazinović demanded that it be revealed whether the Government of the Federation of Bosnia and Herzegovina promised to complete the analysis of the operational value of BH Telecom and HT Eronet by October this year and to sell all shares in these companies by the end of this year.

SDS MP Aleksandra Pandurević also shared her findings with journalists, which could particularly upset citizens who have loans in Swiss francs.

Namely, as speculated, the Letter of Intent states that the Law on Loan Conversion will not be implemented.

- If they have a majority, let them annul the Law on Loan Conversion, but they will answer to the citizens. The IMF protects its banks. We all know that the same people behind the IMF are also behind Hypo Bank, and they protect their interests, and that is logical from their side. But, the institutions of this country, including the Government of the RS and the Federation of Bosnia and Herzegovina, are obliged to protect the citizens of this country - Pandurević emphasized.

She added that it is an old practice that parliamentarians have never been acquainted with any Letter of Intent or agreement concluded with the IMF.

- These are the only international agreements that are concluded without verification. We are in favor of finally having information in Parliament about all arrangements concluded with the IMF - Pandurević added.