IMF has €330 million for Bosnia but entities must first agree on allocation

NEWS 09.04.2020 17:29
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Source: Fena

The International Monetary Fund (IMF) is prepared to provide 330 million euros in emergency assistance to Bosnia and Herzegovina but authorities in the country must first agree on how the money would be allocated between the two semi-autonomous entities, IMF Representative Andrew Jewell said on Thursday.

Jewell explained that the IMF Executive Board decided this week to increase its emergency assistance to Bosnia under its Rapid Financing Instrument (RFI) to help the country respond to the coronavirus crisis.

“Before the RFI can be approved, authorities must first reach an agreement on how the funds from the RFI will be allocated between the two entities. Failure to reach an agreement will result in the postponement of the assistance,” Jewell said.

Jewel urged political leaders to work together and reach an agreement as soon as possible.

The Executive Board has received more than 90 requests for urgent assistance and it will be difficult to set another date for it to discuss Bosnia’s request in the near future, he said.