Bosnia must renegotiate loan terms: IMF

Bosnia must renegotiate the terms of its 1.1 billion euro ($1.55 billion) International Monetary Fund standby programme after 10 months of reform delays, the IMF's top official in the country said on Monday. Bosnia has not received funds from the loan since last October because the failure of political parties to form governments after an election has meant many reforms agreed in the IMF programme have not been carried out.
"We have to agree on what the next steps should be," IMF Resident Representative Milan Cuc told Reuters in an interview. "It is important to wide up some of these slippages so that we can find a strategy going forward: what should be done, how best to approach it, what should be the measures, what should be the new quantitative targets under the programme."