SARAJEVO, June 6 Bosnia's autonomous
Bosniak-Croat Federation raised 30 million Bosnian marka ($17.3
million) at an auction on Tuesday of six-month treasury bills to
help plug a budget gap in the absence of funds from the
International Monetary fund.
Investors, mainly banks, placed bids for 53.3 million marka
against 30 million marka on offer, at an average yield of 0.25
percent, data from the Sarajevo Stock Exchange (SASE) showed.
The average yield was down from 0.26 percent at the last
comparable sale in May.
The Federation has stepped up the frequency of treasury bill
sales to help plug a budget gap after the IMF suspended loan
disbursements because of delays to reforms at national and
The lender has withheld 80 million euros ($90 million)
earmarked under its 553 million euro loan deal for Bosnia.
Although the IMF distributes the loan payments to Bosnia's
central government in Sarajevo, the country's two autonomous
regions, the Federation and the Serb Republic, are the principal
beneficiaries of the aid. Both have resorted to the issuance of
domestic debt to cover their budget holes and finance maturing
($1 = 0.8887 euros)
($1 = 1.738 Bosnian marka)
(Reporting by Maja Zuvela; Editing by Susan Fenton)