Launch of First Review of IMF Arrangement

A meeting between Chairman of the Council of Ministers of BIH Vjekoslav Bevanda with eth Delegation of the International Monetary Fund, led by Chief of Mission of BIH Ron van Rooden marked a launch of the Stand-By Arrangement First Review. 

Chairman Bevanda informed the Mission of preparations for the IMF visit and of technical activities undertaken by the Council of Ministers of BIH in the previous period, which started by signing of the Letter of Intent. He highlighted the importance of adoption of the Global Fiscal Framework for 2012-2'014 and 2013-2015, which created conditions for a more expeditious development of 2013 Budget.

Chairman Bevanda informed the IMF Mission of implemented commitments from the Road Map taken over in Brussels and with all key documents adopted at previous sessions of the Council of Ministers, in relation to assumed obligations.

Chief of the IMF Mission for BIH van Rooden said that he is encouraged by information on fulfilment of the Letter of Intent-related  obligations, and expressed his conviction that in the coming period of time all-level authorities in Bosnia and Herzegovina would implement agreed to commitments timely, so that the First Review might be positively assessed at  the Board meeting in Washington.

Chairman Bevanda briefed the guests of the activities of the Fiscal Council of BIH and Fiscal Council Advisory Group, which, worked, among other things, on the realisation obligations stemming from the Letter of Intent.

Chairman Bevanda and chief of Mission van Rooden reached understanding that the BIH Fiscal Council will meet next on Saturday, November 17, 2012 in Sarejevo.

The meeting was attended by new IMF Resident Representative in BIH Ruben Atoyan.

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