IMF approves $520 mln loan to Bosnia

The International Monetary Fund (IMF) approved a two-year, 520-million-dollar (405-million-euro) loan to Bosnia late Wednesday to support the government's economic programme, dpa reported. The loan is intended to help Bosnia counter the effects of the worsening external environment and addressing domestic structural weaknesses, the IMF said. 'In recent months, Bosnia's ... economic recovery has been losing momentum and risks to the outlook have tilted to the downside. In this context, the authorities' comprehensive economic program for the period ahead is timely and welcome,' the IMF said in a statement. The decision enables the disbursement of the initial 78-million dollar tranche, with the rest to be disbursed following a positive evaluation of the programme implementation on a quarterly basis.