IMF allocates 602.5 million marks to Bosnia based on special drawing rights

NEWS 24.08.2021 11:52
Source: N1

The International Monetary Fund (IMF) has allocated the amount of 602.5 million marks to the account of Bosnia's Central Bank, based on the special drawing rights (SDR).

The allocation of funds was confirmed on Monday evening.

The Central Bank, as the fiscal agent of Bosnia and Herzegovina, will forward the funds to the account of the Finance and Treasury Ministry.

The IMF Board of Governors on August 2 approved as a response to the crisis caused by the COVID-19 pandemic the allocation of some 456 billion SDR which equals to some 650 billion dollars, the amount that is now being distributed to the IMF member states.

It was named the largest allocation of SDR in history.

The SDR does not count as a classic loan arrangement between the IMF and countries and its value is based on a basket of key international currencies reviewed by IMF every five years.

(1 euro = 1.96 Bosnian marks)

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