IMF wants new fund with ability to extend ELA in Bosnia and Herzegovina
Staff suggest creating financial stability fund that can provide liquidity support
The IMF is calling for the creation of a financial stability fund in Bosnia and Herzegovina with the power to provide emergency liquidity assistance (ELA) to stressed banks – a way of getting around the restrictions of the currency board arrangement followed by the central bank.
In a report published on July 9, following a financial system stability assessment, the IMF warns "important elements of the financial safety net are either missing or not adequately developed", including the ability to
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