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$650 million IMF loan for Bosnia frozen due to lack of progress

Staff Writer |
An International Monetary Fund mission (IMF) is in Bosnia for talks aimed at unlocking payouts under a $650 million loan programme which are frozen due to lack of progress by the authorities in carrying out economic reforms.

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The IMF approved a three-year 550 million euro ($648.5 million) extended loan arrangement for Bosnia in Sept. 2016 and has already disbursed 79.2 million euros to two autonomous regions, the Bosniak-Croat Federation and the Serb Republic.

But political bickering in parliament blocked reforms agreed with the Fund and a first review of the agreement, which is required for more credit to be released, was not completed.

The one-week IMF visit follows parliament's adoption last week of a long-delayed set of laws on excise taxes, which was among key conditions for further disbursements of IMF aid.

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