November 25, 2016 / 11:01 AM / 2 years ago

Bosnian region aims to raise $2.8 million via 6-mo T-bills on Dec. 7

SARAJEVO, Nov 25 (Reuters) - Bosnia’s autonomous Serb Republic aims to raise 5.1 million Bosnian marka ($2.8 million) via an auction of six-month treasury bills on Dec. 7 to plug a budget gap, the Finance Ministry said on Friday.

The auction will be carried out through the Banja Luka Stock Exchange, it said in a statement.

Bosnia’s two autonomous regions, the Serb Republic and Bosniak-Croat Federation, have a combined budget deficit of about 1 billion marka and need cash to help cover their financing needs.

The International Monetary Fund (IMF) said it would disburse another tranche of its 553 million euro ($586 million) loan to Bosnia in early 2017 if key reforms and next year’s budgets are adopted. ($1 = 1.854 Bosnian marka) (Reporting by Maja Zuvela; Editing by Hugh Lawson)

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