Fiscal Council Holds its Session with IMF Mission

The 20th session of the B-H Fiscal Council in Sarajevo concluded that Finance Ministers failed to reach a consensus on framework budgets for the next year, as agreed at the previous session of the Fiscal Council. 

A joint conclusion was that the system regulating temporary financing situations should secure fiscal accountability in 2011 until adoption of the Budget.

In the second part of the Fiscal Council session was attended by the International Monetary Fund mission for the purpose of its Stand-By Arrangement fourth review.

The meeting discussed a fulfilment of Stand-By Aarrangement commitments and continuation of structural reforms in B-H.

It was stressed that all quantitative programme indicators were fulfilled by September 30, 2010, as planned. New authorities at all levels are expected to continue implementation of needed measures of adjustment, defined through Stand-By Arrangement policies.

It was concluded that operative level cooperation with the IMF will be continued until completion of the fourth review.