ARMENIAN PRESIDENT APPRECIATES ARMENIA-IMF COOPERATION

ARKA
Feb 19, 2009

YEREVAN, February 19. /ARKA/. At his meeting with a delegation of
the International Monetary Fund (IMF) RA President Serzh Sargsyan
expressed appreciation of the Armenia-IMF Cooperation and thanked
the IMF for its assistance to the country.

The RA presidential press office reports that the IMF delegation was
headed by IMF Executive Director Age Bakker, and included Lorenzo
Perez, Deputy Director, IMF Middle East & Central Asia Department,
Mark Luis Head of the IMF Mission in Armenia, and IMF Resident
Representative in Armenia Nienke Oomes.

President Sargsyan re-affirmed the Armenian authorities’ willingness
to make active and practical steps to temper the impact of the global
economic and financial crisis on the Armenian economy.

The sides discussed the issues related to the programs and prospects
of the Armenia-IMF cooperation amid the crisis.

On November 17, 2008, the IMF Executive Council approved a 3-year
9.2mln SDR ($13.6mln) credit under the Poverty Reduction and Growth
Facility (PRGF) program.

The funds are intended to support the Armenian Government’s economic
program until 2011. Armenia can receive 1.31 SDR (about $1.9mln)
from the IMF.

From: Emil Lazarian | Ararat NewsPress