Chairman of Council of Ministers of B-H Receives IMF Delegation

Chairman of the Council of Ministers Dr. Nikola Špirić held a discussion with Head of IMF Mission Kostas Krisous on the implementation of the economic programme under the Stand-by Arrangement. 

Chairman Špirić informed the IMF Delegation that the latest session of the Fiscal Council of B-H reviewed the level of implementation of the commitments stemming from the Letter of Intent with the IMF. On that occasion, all competent institutions were charged to inform the IMF on compliance with all of their reporting and implementation commitments.

Chairman Špirić said the Fiscal Council discussed the drafting of 2011-2013 B-H Fiscal Balance and Policies Global Framework.

In that regard, all competent institutions were tasked to provide timely all needed inputs to the Fiscal Council Advisory Group for the development of 2011-2013 B-H Fiscal Balance and Policies Global Framework. The Advisory Group is to prepare the document and send it to the Fiscal Council for adoption.

Chairman Špirić highlighted a need for adopting a high-quality law on salaries in the Federation of B-H, in addition to adopting measures in the social welfare sector, in which deadlines and the regulation core provisions should be taken into consideration in order to avoid jeopardising tranches provided for the B-H fiscal system stabilisation. 

The aim of the IMF delegation visit was the insight into the current situation in B-H, as well as preparations for the consultations scheduled for May, when the Second Review is planned to be issued.

The Executive Directors at their session on March 24, 2010, successfully completed the First Review of Stand-Bay Arrangements, following which the conditions were met for withdrawals from the second and third tranches in total amount of SDR 121.75 million.

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