Bosnia region seeks to raise $17.2 mln via one-month T-bill issue

BANJA LUKA, Bosnia Feb 5 (Reuters) - Bosnia's autonomous Serb Republic aims to raise 30 million Bosnian marka ($17.2 million) in an auction of its debut one-month treasury bills on Feb. 15, to help pay maturing debt in the absence of funds from the International Monetary Fund.

The auction will be carried out on the Banja Luka Stock Exchange, the region's finance ministry said on Friday.

Bosnia's two regions, the Serb Republic and the Bosniak-Croat Federation, badly need cash to plug their budget deficits or finance maturing debt after they failed to secure a new loan from the IMF because of delays in carrying out economic reforms.

The regions' prime ministers invited an IMF mission this week to visit Bosnia in the following weeks to resume talks on an Extended Fund Facility worth about 1 billion Bosnian marka . ($1 = 1.745 Bosnian marka)

(Reporting by Daria Sito-Sucic and Gordana Katana; Editing by Larry King)

Advertisement