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.