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IMF ready to lend Bosnia 165 mln euro to mitigate coronavirus crisis

Mar 18, 2020, 10:35:55 AMArticle by Iskra Pavlova
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March 18 (SeeNews) - The International Monetary Fund (IMF) is ready to lend Bosnia some 165 million euro in extraordinary support to help mitigate the coronavirus impact in the country, the government said.

IMF ready to lend Bosnia 165 mln euro to mitigate coronavirus crisis
Bosnian PM Zoran Tegeltija and IMF's Andrew Jewell, Photo: Bosnia's Council of Ministers

The financing is part of a larger $50 billion credit line which the IMF has earmarked for supporting all its member states in times of emergency and extraordinary circumstances, Bosnia's council of ministers said in a statement on Tuesday, following a meeting between prime minister Zoran Tegeltija and the IMF resident representative to Bosnia, Andrew Jewell.

Each IMF member state is eligible to receive a special credit of up to 50% of its quota, which in the case of Bosnia is some 165 million euro, the statement read.

In this case, the credit will be approved in a speedy procedure, with the funds expected to become operational for Bosnia in May.

Tegeltija said in the statement that the government is ready to start talks with the IMF on the financing very soon, adding Bosnia plans to use the funds to support its health system, as well as to provide direct support to the domestic economy.

On Tuesday, the Bosnian government declared a state of emergency in an attempt to curb the spread of the coronavirus disease in the country. The number of infected people has reached 27 as of March 16.

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