June 24 (SeeNews) - Bosnia could start talks with the International Monetary Fund (IMF) on signing a new funding arrangement in the second half of 2020, local media reported on Wednesday, quoting the the Fund's resident representative Andrew Jewell.
"The size of the arrangement still needs to be determined. In the meantime, we are in a regular dialogue with the authorities on the reforms in the health sector and the public sector," news daily Glas Sprske quoted Jewell as saying.
In April, the IMF said its turning its attention to negotiating a new, multiyear funding arrangement with the Bosnian authorities, following the approval of 333 million euro ($375 million) in emergency assistance to the country in the context of the coronavirus pandemic.
In January, prior to the outbreak of the coronavirus crisis, Bosnia's state-level government said it should facilitate the continuation of the country's existing arrangement with the IMF and clear the way for a new deal with the global lender.
In September 2016, the IMF approved a three-year, 553.3 million euro loan under a Extended Fund Facility (EFF) to support Bosnia's economic reform agenda. However, its implementation had been blocked after Bosnia failed to form a new government and state institutions more than year following the October 2018 general elections. The country's new government was eventually voted in office in December 2019, pledging to unblock the IMF deal.
($=0.887669 euro)