IMF-RA NA COOPERATION TO CONTINUE

YEREVAN, JULY 28, NOYAN TAPAN. RA National Assembly is ready to search
for new ways of cooperation with the International Monetary Fund
(IMF). RA NA Speaker Tigran Torosian declared this on July 27,
receiving IMF Resident Representative James McHugh finishing his
mission in Armenia and IMF new Representative Nienke A.Oomes.

T.Torosian expressing gratitude to J.McHugh for the active work in the
previous years, stressed the contribution of IMF and its
representatives to the economic achievements of Armenia. NA Speaker
also expressed the hope that the efficient cooperation will also
continue with new IMF Representative Nienke A.Oomes. Referring to the
experience of post-Soviet countries, T.Torosian said that in the first
years of the independence economic reforms, formation of free economic
relations and free market were mainly considered as important, but in
the course of time it became obvious that the political reforms are
brought to the forefront and their delay can impede economic
development and progress.

J.McHugh said that IMF mission will arrive in Armenia in September to
study the latest developments and execution of the events. He
positively estimated the two-year reforms and said that henceforth IMF
will also suggest its approaches for the Armenian government to make a
choice. He also said that IMF supports CBA’s policy of appreciation of
nominal value of national currency understanding all difficulties
caused by great inflow of foreign currency to Armenia.

As NT was informed from NA Public Relations Department, mentioning the
direct connection betweeen the tax-customs policy and appreciation of
nominal value of national currency, the sides expressed readiness to
find joint solutions.