IMF approves 550-million euro loan for Bosnia

EU membership is a major political objective for Bosnia, and under pressure from Brussels it launched economic reforms last year, notably on the labour marketThe International Monetary Fund said Tuesday it had approved a new loan to Bosnia worth 550 million euros ($613 million) to help it carry out economic reforms sought by the European Union. The reforms are intended to improve the business climate in the Balkan country, resume the privatisation and restructuring of public enterprises, and slow down a rise in public debt. The loan has yet to be approved by the IMF Executive Board, with the green light not expected until July.

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