IMF Likely to Stick to Loan Conditions Despite Veterans' Protests, Bosnian PM Says

Bosnian Prime Minister Nikola Spiric said the International Monetary Fund is expected to stick to the terms of its loan to Bosnia-Herzegovina even as violent protests were staged by the country’s war veterans against the austerity measures under the IMF standby deal worth USD1.2 billion euros (USD1.61 billion), Reuters reports. The measures put out tougher criteria for veterans’ payments.

“If we translate all of this to real-life consequences, it will mean that the IMF stand-by arrangement will be suspended, the (federation) budget will have 335 million Bosnian marka less, we shall not be able to pay 400,000 pensioners,” Federation Prime Minister Mustafa Mujezinovic said, as quoted by Reuters.

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.

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