Selling Bonds and Treasury Bills in Lieu of IMF Tranche

Yesterday, during the 40th session, the members of the Committee for Economic and Financial Policy of the FBiH Parliament’s House of Representatives approved an amending budget proposal for 2014 for further parliamentary consideration.

Proposal to amend and supplement the Budget of FBiH for 2014 was the Committee’s response to IMF freezing the seventh tranche of its standby programme. The government will fund the amending budget by selling bonds and Treasury Bills. The Federal Ministry of Finance was informed that the reason behind IMF’s decision is the government’s failure to adopt the Law on Excises and Law on the Prevention of Money Laundering. The amending budget proposal for 2014 included lines for addressing the flood-related damage and starting a Federal fund for natural disasters.

Members of the Committee agreed and sent a proposal to the Banking Agency of FBiH, for reprogramming of loans for natural and legal persons affected by floods, according to which the debtor would be paying interest rates, without the capital, for the first two years, and the loan deadline would be extended by two years.

Pursuant to the adopted Proposal to amend and supplement the Budget of FBiH for 2014, the corresponding amendments and supplements were adopted for the Budget Enforcement Law of FBiH for the current year.

After the aforementioned two items on the agenda, members of the Committee discussed the Proposal to amend and supplement the Financial Plan of the Federal Employment Bureau for 2014, which was deemed urgent and included as the final item on the agenda of this session. The Proposal was unanimously adopted and sent to the Parliament for further approval. 


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