Bevanda Christou Meeting: BIH and IMF Ready for Talks on New Arrangement

Chairman of the Council of Ministers of BIH Vjekoslav Bevanda received in Sarajevo today a delegation of IMF, let by Head of IMF Mission in BIH Costas Christou, with whom he discussed the beginning of negotiations on a new Bosnia and Herzegovina’s arrangement with the IMF. 

Chairman Bevanda informed the Head of IMMF Mission in BIH of the economic developments in BIH and efforts undertaken by the Council of Ministers of BIH towards the fiscal consolidation of the country.  He said that since the last visit of the IMF delegation to the country, the Fiscal Council has determined the Global Fiscal Framework for 2012-2014, including the Proposal Budget of BIH Institutions for 2012 being already adopted at the House of Representatives at the first reading.

Chairman Bevanda said that the proposed Budget of BIH Institutions is a realistic and restrictive one, and that it is the first time in BIH that its institutions embraced on a reduction of public spending, which is one of the IMF and World Bank suggestions. He added that, other than notable savings, the size of the 2012 Budget of BIH Institutions is sufficient for normal operations of all BIH Institutions in their full capacity.

Head of the IMF Mission in BIH Christou expressed his pleasure with the encouraging progress made in Bosnia and Herzegovina in the last three months. He commended especially the Council of Ministers of BIH for its efforts in Budget preparation and acceleration of the EU integrations process of BIH.

The Head of the IMF Mission in BIH said that the IMF is ready to start talks with BIH on a new arrangement, and that the IMF delegation stays in BIH until May 29, until when it plans to hold needed talks with representatives of BIH Institutions, Entities and Central Bank of BIH.

Today’s meeting was attended by Executive Director the IMF/WB Dutch Constituency Menno Snel.

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