The International Monetary Fund said Wednesday it was on course to review its loan to Bosnia-Herzegovina by year-end after an IMF mission to the country reported good progress, Reuters reports.
The IMF approved a 24-month, EUR405m loan to Bosnia in September to support the government's economic programme to navigate the Eurozone crisis. It provided EUR60m immediately, but further tranches are contingent on Bosnia keeping its economic programme on track.
"The mission made significant progress, and reached understandings on the government budgets for 2013 and the structural reforms aimed at strengthening public finances, preserving financial stability, and improving the business environment," IMF mission chief Ron van Rooden said in a statement. "The mission expects to resolve outstanding issues in the coming days, which would pave the way for consideration of the first review of the (loan) by the IMF Executive Board before year-end."
Source: bne