SARAJEVO, April 3 Bosnia's autonomous
Bosniak-Croat Federation plans to issue three-month treasury
bills worth of 20 million Bosnian marka ($10.9 million) on April
11 to help finance maturing debt, data from the region's Finance
Ministry website showed.
The ministry resorted to the issuing of debt after the
International Monetary Fund halted the disbursement of aid under
its 553 million euros ($590 million) loan programme for Bosnia
over the authorities' failure to implement required reforms.
The sale will be carried out through the Sarajevo Stock
Exchange (SASE), the ministry said.
The lender has already paid out 79.2 million euros. But to
access the next tranche of 80 million euros, Bosnia must pass a
law raising excise taxes, and the Bosniak-Croat Federation must
adopt a new banking law and sign an agreement on due diligence
in its two telecoms firms with international lenders.
The IMF distributes the loan payments to Bosnia's central
government in Sarajevo but the principal beneficiaries are its
two autonomous regions - the Bosniak-Croat Federation and the
($1 = 0.9374 euros)
($1 = 1.83 Bosnian marka)
(Reporting by Daria Sito-Sucic; Editing by Alison Williams)