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IMF to double funding for Bosnia over flooding


    SARAJEVO (Reuters) - The International Monetary Fund is ready to double funding for Bosnia under its standby loan deal to around 190 million euros ($260 million) to help it cope with the effects of the worst flooding in living memory, an IMF official said on Friday.

    The lender will also cut its growth forecast for Bosnia to around 0.5 percent from 2 percent, and substantially revise its fiscal deficit target of 2 percent of GDP under the standby loan, Ron van Rooden, the head of the IMF visiting mission, told Reuters in an interview.

    (Reporting by Daria Sito-Sucic; Editing by Zoran Radosavljevic and Alison Williams)