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