CBBH receives CoM decision on implementation of IMF rapid financial assistance

CBBH receives CoM decision on implementation of IMF rapid financial assistance

SARAJEVO, June 3 (FENA) – Today, the Central Bank of Bosnia and Herzegovina (CBBH) received the Decision of the Council of Ministers of Bosnia and Herzegovina on the allocation of funds of the Rapid Financing Instruments (RFI) from the International Monetary Fund (IMF).

This created the conditions for the distribution and remittance of approximately 648 million convertible marks to the sub-accounts of the Ministry of Finance of the Federation of Bosnia and Herzegovina, the Ministry of Finance of the Republika Srpska and the Brčko District.

The funds will be allocated on the basis of the Decision, i.e. the Instruction on the allocation of funds of the Ministry of Finance and Treasury of Bosnia and Herzegovina, as follows: 61.5 % for the Federation of Bosnia and Herzegovina with its 10 cantons; 37.5 % for Republika Srpska and 1 % for the Brčko District of Bosnia and Herzegovina.

Debt repayment is performed by the Entities and the Brčko District of Bosnia and Herzegovina in accordance with the legal regulations, stipulating the settlement of liabilities towards international financial institutions according to the established repayment plans.

The current interest rate is based on 1.05 percent with a grace period of 39 months. The loan is repaid in eight quarterly annuities, Communication Office of the Central Bank of BiH announced.