Memo on the Execution of the Role of the CBBH as the Fiscal Agent Towards the IMF Signed

Representatives of the Central Bank of BH (CBBH), Ministry of Treasury of BH as well as the entity finance ministries signed the Memo on the execution of the role of the fiscal agent of the BH towards the IMF.

This Memo sets relationships, duties and responsibilities of the Treasury Ministry of the BH Institutions, finance ministries of both BH entities and the CBBH in respect of the CBBH work as the fiscal agent towards the IMF.

The CBBH will act as the fiscal agent towards the IMF. BH, as the member of the IMF, is the carrier of the rights and obligations towards the IMF. Ministry of Treasury of the BH will issue securities, and with ministries of finance of both entities, will be selected for the distribution of assets to the end users and it will also provide assets for the return of the credit installments and other obligations of towards the IMF on time.

Financial arrangements that are subject to this Memo will be issued in the way which will fully respect the principles of the Currency Board Arrangement.