prijava
SARAJEVO, April 1 (FENA) - Resident Representative of the International Monetary Fund (IMF) in Bosnia and Herzegovina Andrew Jewell said today in Sarajevo that the IMF wants to express its solidarity with the people of Bosnia and Herzegovina in these difficult times.
“We work as quickly as possible to provide aid under the Rapid Financing Instrument (RFI). Currently, we expect to allocate around EUR 165 million in the second half of April to help authorities increase spending on health and finance measures to stabilize the economy. There is also a possibility that it exceeds 165 million euros if the IMF Executive Board decides to increase the RFI loan limit,” Jewell said.
He stressed that at this time of uncertainty, the currency board arrangement of the BiH Central Bank is a pillar of stability. Jewell added that the CBBH’s currency board arrangement has served Bosnia and Herzegovina well for more than two decades, contributing to low inflation, financial stability and confidence in the currency.
“Any attempt to use the Central Bank's foreign exchange reserves for fiscal purposes would undermine the currency board, threaten financial stability and risk significant inflationary developments. In other words, this would mean that, in addition to the economic and humanitarian crisis that BiH is now facing, it would also have a financial and currency crisis. For this reason, if the currency board arrangement is compromised, the IMF will not provide financial assistance to Bosnia and Herzegovina under the Rapid Financing Instrument,” Jewell said.
(FENA) A. B.
