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Bosnia will ask for new IMF arrangement-PM Bevanda
March 14, 2012 / 1:57 PM / 6 years ago

Bosnia will ask for new IMF arrangement-PM Bevanda

SARAJEVO, March 14 (Reuters) - Bosnia will ask the International Monetary Fund (IMF) for a new loan deal, the country’s Fiscal Council decided on Wednesday after it met the IMF’s key demand to agree on a three-year budget framework.

“We decided to ... start negotiations for a new arrangement with the IMF,” Prime Minister Vjekoslav Bevanda, who chairs the Fiscal Council, the country’s top decision-making body, told a news conference.

Bosnia clinched a 1.1 billion euro ($1.44 billion) standby deal with the IMF in 2008 but it was frozen in October 2010 over delays in reforms. It expires in June.

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