Press Release No. 03/164

Press Release: IMF Extends Stand-By Arrangement for Bosnia and Herzegovina through December 31, 2003

October 7, 2003

The Executive Board of the International Monetary Fund (IMF) today approved a two-month extension of the Stand-By Arrangement for Bosnia and Herzegovina through December 31, 2003. The arrangement had been due to expire on November 1, 2003. Bosnia and Herzegovina requested the extension to allow time for the completion of the fourth review under the arrangement.

The Stand-By Arrangement, which was approved on August 2, 2002 (see Press Release No. 02/35), totals SDR 67.6 million (about US$97 million). So far, Bosnia and Herzegovina has drawn SDR 55.6 million (about US$80 million) under the arrangement.