Chairman Zvizdić with His Deputies Bevanda and Šarović in Meeting with IMF Delegation

Chairman of the Council of Ministers of BIH Dr Denis Zvizdić and his Deputies, Minister of Foreign Trade and Economic Relations of BIH Mirko Šarović and Minister of Finance and Treasury of BIH Vjekoslav Bevanda held talks in Sarajevo with a delegation of the International Monetary Fund (IMF), led by Head of IMF Mission Nadim Ilahi, on realisation of the BIH Institutions' committments within the existing IMF Arrangement. 

Chairman Zvizdić informed the IMF Delegation that the Council of Ministers of BIH defined a 2017 Draft Budget Law of Institutions of Bosnia and Herzergovina and International Obligations of BIH and sent it to the BIH Presidnecy for further procedure. He said that one of the key aims of BIH is to maintain the financial system stability and to revive banking sector lending activities in order to incite investments and generate economic growth, where an important place should be for agreed and harmonised relevant Entity laws. He added that it is also very important to have an authomatised indirect taxes revenues distribuion system, created  in an expert way and with IMF technical assistance.

Head of IMF Mission  of BIH Ilahi said BIH has made a progress over the past period. He welcomed especially the adoption of a Rulebook on Control and Prising of Drugs, which opens the way for BIH's access to financial arrangements with other interantional financial inatitutions. He stressed that the IMF monitors closely  the process of adoption of a set of Entity banking sector legislation, underlining  that the only acceptable solution for the IMF is to have the laws harnomised.

The IMF Mission stays in BIH within its first review following the approval of a new loan programme for BIH, worth about KM one billin, and disbursement of the first tranche to the Entities.

The meetign was attended by IMF Resident Representative in BIH Francisco Parodi.

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