SARAJEVO (Bosnia and Herzegovina), November 6 (SeeNews) – Bosnia's Federation plans to issue short-term and long-term government papers in the amount of 510 million marka ($302.6 million/260.8 million euro) in 2018 to refinance existing debt, its government said.
The Federation plans to allocate 256 million marka to capital investments next year, while 183 million marka will be directed to the construction of motorways and fast roads, the government said in a statement on Friday, after adopting a draft budget bill for 2018.
The Federation is one of the two autonomous entities forming Bosnia and Herzegovina. The other one is the Serb Republic.
Both entities have been faced with underfunding since the International Monetary Fund decided to postpone the release of a second loan tranche under its current three-year funding deal with the country earlier this year, due to unfulfilled reform targets.
(euro=1.95583 marka)