BANJA LUKA (Bosnia and Herzegovina), April 5 (SeeNews) – Bosnia’s Serb Republic cancelled a scheduled auction for 15 million marka ($9.4 million/7.7 million euro) of six-month Treasury bills, the entity's finance ministry said on Thursday.
The auction, due to be held on April 10, was called off after the ministry analysed the inflow of funds into the budget and came to the conclusion that additional funds are currently not needed, the Serb Republic finance ministry said in a filing with the Banja Luka bourse.
This is the third time the ministry cancels a Treasury bills auction this year.
The International Monetary Fund (IMF) made available 74.6 million euro ($91.9 million) to Bosnia in February, after completing the first review of the country's reform performance under the Extended Fund Facility (EFF). The IMF executive board approved the 36-month, 553.3 million euro arrangement under the EFF for Bosnia in 2016.
At the last auction of six-month Treasury bills, held on January 11, the Serb Republic raised 20 million marka. The yield was 0.3001%, unchanged from the yield achieved at the previous auction held on October 9.
The Serb Republic is one of the two autonomous entities forming Bosnia. The other is the Federation of Bosnia and Herzegovina.
(1 euro=1.95583 Bosnian marka)