IMF Reviews Noncompliant Credit Drawing by Bosnia and Herzegovina

The Executive Board of the International Monetary Fund (IMF) today reviewed a purchase by Bosnia and Herzegovina at the conclusion of the Sixth and Seventh Reviews of the Stand-By Arrangement which expired on May 29, 2001. The purchase was noncomplying, owing to a reporting error. The Executive Board also reviewed the corrective action subsequently taken by the authorities. Following the review, the Executive Board granted a waiver, which brought the purchase into compliance with IMF rules.