IMF EXECUTIVE BOARD APPROVES RELEASE OF 13.6 MILLION DOLLARS TO ARMENIA UNDER PRGF ARRANGEMENT

Noyan Tapan

Nov 19, 2008

YEREVAN, NOVEMBER 19, NOYAN TAPAN. The Executive Board of the
International Monetary Fund (IMF) approved the release of a 3-year
credit of SDR 9.2 million (about 13.6 million USD) to Armenia under the
Poverty Reduction and Growth Facility (PRGF) arrangement in support of
the Armenian government’s program through 2011. This decision allows
Armenia to receive immediately an amount equivalent to SDR 1.31 million
(about 1,9 million USD) from IMF.