IMF - International Monetary Fund


imf logo
Bosnia and Herzegovina succeeded to the membership in IMF as of December 14, 1992. The IMF provides financial assistance through stand-by arrangements and also technical assistance in a number of areas, such as establishment of new central bank and new clearing system, banking supervision, development of a fiscal structure in the Federation, reform of tax administration, design of VAT, development of treasuries and improvement of public expenditure management, improvement of monetary statistics, and development of statistical base and providing statistical advisors.

At a Glance
- Bosnia and Herzegovina succeeded to the membership of the Socialist Federal Republic of Yugoslavia as of December 14, 1992.
- Bosnia and Herzegovina‘s quota in the IMF amounts to SDR 169.1 million (about US$ 213.5 million) or 0.08 percent of total quota. Bosnia and Herzegovina’s voting power in the IMF is 1,941 votes or 0.09 percent of total.
- Bosnia and Herzegovina‘s Governor in the IMF is Ms. Ljerka Maric, Minister of Finance of the State government.
- Mr. Jeroen Kremers (the Netherlands) is Bosnia and Herzegovina’s Executive Director in the IMF; his constituency also includes Armenia, Bulgaria, Croatia, Cyprus, Georgia, Israel, the former Yugoslav Republic of Macedonia, Moldova, Romania, and Ukraine.
- Bosnia and Herzegovina ‘s currency, the convertible marka (KM), is pegged to EUR at KM 1 per 0,51129 EUR under a currency board arrangement.

Financial Assistance

On December 20, 1995, Bosnia and Herzegovina drew the equivalent of SDR 30.3 million (about US$ 45 million) under the IMF’s emergency post-conflict assistance to address the challenges of political and economic reintegration, the rebuilding of infrastructure, and the creation of the basis for a market economy; on May 29, 1998, the Executive Board approved a stand-by arrangement in the amount of SDR 60.6 million (50 percent of quota), augmented on June 28, 1999 to SDR 77.51 million and further augmented on March 31, 2000 to SDR 94.41 million; on August 2, 2002 the Executive Board approved the second stand-by arrangement of SDR 67.60 million. 

                                                       I                                 II
Type of arrangement:                 stand-by                     stand-by
Approval date:                          29 May 1998              02 August 2002
Expiration or cancelation date:   29 May 2001              28 February 2004
Amount approved (SDR million): 94,42                        67,60
Amount drawn (SDR million):      94,42                        67,60

Technical Assistance and IMF Institute Participation
Since 1996, the IMF has provided Bosnia and Herzegovina with technical assistance in a number of areas, including to establish a new central bank and a new clearing system, banking supervision, develop a fiscal structure in the Federation, reform tax administration, design a VAT, develop treasuries and improve public expenditure management, improve monetary statistics, and develop the statistical base and providing statistical advisors. The Joint Vienna Institute provided training to Bosnian officials in several areas, among them fiscal management, and monetary operations and statistics.




CONTACT

Mr. Milan Cuc 
IMF Representative
Address: Marsala Tita 25, Sarajevo, Bosnia and Herzegovina
Tel: +387.33.668.167
Fax: +387.33.659.096

ILO New Logo
imf
iom
unesco
UNHCR new Logo 1
unv
WHO Logo New
WB Logo New