Chairman of Council of Ministers of BIH Talks via Video-Link with Head of IMF Mission in BIH and Resident Representative in BIH

Chairman of Council of Ministers of BIH Talks via Vide-Link with Head of IMF Mission in BIH Martin Petri and Resident Representative in BIH Andrew Juel on the current situation in BIH caused by Covid-19 pandemics. 

Chairman Tegeltija briefed IMF Mission in BIH Chief Martin Petry on the situation in BIH as to the health situation and economic effects of the pandemics, including on possibilities for BIH authorities' response to the effect of citizens’ health protection and as early as possible recovery of economy and jobs.

The IMF Representatives informed the Chairman of the Council of Ministers that it is quiet certain to increase the amount of funds approved to BIH through the speeded funding instrument from 50% to 100% of paid-in quota, which amounts from EUR 165 million to EUR 330 million, stressing that the Board of Directors will reflect on that on Monday, April 6, 2020.

On this occasion, they stressed the extreme importance for the Entities to agree on the funds allocation, otherwise the deadline for Directors to decide on the Instrument will be prolonged.

The IMF Representatives expressed their dissatisfaction with the fact that on elaborating measures to support the economy, the Entity Governments have  not consulted not informed the IMF or other international financial institutions, although a considerable support is   expected  in funding the measures defined.

Chairman Tegeltija thanked to the IMF Representatives for a swift reaction to BIH request for the approval of urgent funds, expressing his expectation for the Entities to agree about the allocation of the approved funds, so that the deadlines would be complied with and funds made available to the Entities and Brčko Distict of BIH as soon as possible.