IMF APPROVED OF $35 MILLION CREDIT TO ARMENIA

Pan Armenian News
02.06.2005 04:45

/PanARMENIAN.Net/ The IMF Executive Council has approved of a credit
of SDR 23 million (some $35 million) to Armenia, reported Regnum news
agency. The credit will be provided by 7 tranches in 2006-2008, the
first one making SDR 3.28 million (some $5 million) will be provided
upon the approval of the PRGF new program. In the future the IMF will
make a decision on provision of the following tranches based on the
course of economic reforms. The program will focus on assisting the
Armenian Government in tax, customs and financial reforms, as well as
providing for a macroeconomic stability, development of the private
sector and stabilization of prices.

From: Emil Lazarian | Ararat NewsPress