IMF puts off arrangement with Bosnia


International Monetary Fund has postponed arrangement with Bosnia and Herzegovina, FBiH Government sources confirmed to Klix website.

The IMF representatives will inform local officials formally about this decision today or tomorrow, local media report.

The IMF made this decision because members of the BiH Fiscal Council have not yet signed the Letter of Intent, agreed earlier this year.

The arrangement should provide 550 million Euros for BiH in the next period.

Nezavisne Novine reports that BiH and FBiH prime ministers Denis Zvizdic and Fadil Novalic have not signed the Letter, defining mutual obligations of BiH and IMF.

Klix writes that it is unknown why they did not sign it.

Both Bosnia's entities have huge gaps in their budgets, which should have been only partly patched with IMF's money.