IMF delays new deal for Bosnia after authorities fail to sign
The International Monetary Fund said on Thursday it had delayed approval of a three-year, 550 million euro ($608 million) loan agreement for Bosnia after authorities there failed to sign the deal in what appeared to be an internal political spat.
The two autonomous regions, the Bosniak-Croat Federation and the Serb Republic, whose total budget deficit amounts to about 1 billion Bosnian marka ($570 million), badly need IMF cash to help cover their financing needs, and the IMF Executive Board had been expected to approve the deal in mid-July.