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Nov 10, 2017 11:39 EEST
SARAJEVO (Bosnia and Herzegovina), November 10 (SeeNews) – A mission of the International Monetary Fund (IMF) headed by Nadeem Ilahi is visiting Bosnia and Herzegovina until November 22, the IMF said on Friday.
The mission will hold regular Article IV consultations on economic developments and outlook, and discussions on policies to complete the first review under the Extended Fund Facility (EFF), the IMF said in a statement.
In September last year, the IMF approved a three-year 553.3 million euro loan ($644 million) to Bosnia and Herzegovina to support the country’s economic reform agenda.
However, the IMF delayed the release of the second loan tranche in May, after the Bosnian authorities failed to meet the agreed reform targets, in particular the adoption of changes to excise legislation.
Since then, Bosnia's two entities have been struggling to stay liquid. In October the Serb Republic concluded a loan deal with Serbia's Komercijalna banka, while the Federation has held several T-bill auctions in a bid to plug budget holes.
The Serb Republic and the Federation are two entities that make up Bosnia and Herzegovina.
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