IMF Loan on Hold over Delays in Reforms

The International Monetary Fund has put its loan deal with Bosnia on hold because the state and entity authorities have failed to enact reforms agreed with the lender, the IMF Resident Representative in Bosnia said.
“We cannot expect the formal completion of the first review in February because there are delays in the completion of prior actions. We are waiting for them to be completed for the IMF staff to recommend (Executive) Board approval of the first review,” Francisco Parodi told Reuters.
The IMF approved last September a three-year loan for Bosnia worth 553.3 million euros to back the country’s economic reforms. However, the fund has said the state must pass a law raising excise taxes, and the Federation entity must adopt a new banking law before the next installment is paid.

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