IMF APPROVES $ 13,6-MILLION LOAN FOR ARMENIA

AZG Armenian Daily
20/11/2008

IMF-Armenia

The Executive Board of the International Monetary Fund (IMF) has
approved a nearly $13.6 million, three-year arrangement under the
Poverty Reduction and Growth Facility (PRGF) for Armenia "to support
the government’s economic program through 2011." In a press release
disseminated on Wednesday the IMF said "the decision will enable
the Republic of Armenia to draw an amount equivalent to about $1.9
million immediately." According to the report, Armenia’s PRGF-supported
economic program builds on the authorities’ Sustainable Development
Program (SDP) and the main goals of the new program are to sustain
and broaden economic growth, and further reduce poverty. "Azatutyun"
reported.