Statement by the IMF Mission to Bosnia and Herzegovina:

An International Monetary Fund (IMF) mission, led by Mr. Ron van Rooden, visited Sarajevo and Banja Luka during February 13-26, 2013, to discuss recent economic developments and policies for the second review under Bosnia and Herzegovinas Stand-By Arrangement (SBA). At the conclusion of the visit, Mr. van Rooden issued the following statement:

The mission assessed performance against end-December program targets and reached a staff-level agreement on the governments structural reforms aimed at strengthening public finances, preserving financial stability, and improving the business environment. In this context, the mission reached understandings on the principles of the new comprehensive law on privileged pensions in the Federation of Bosnia and Herzegovina and expects to resolve outstanding technical issues in the coming days. Parliamentary approval of this law would pave the way for consideration of the second review of the SBA by the IMF Executive Board.

Source: bne