IMF TO ALLOCATE ARMENIA $540 MLN

PanARMENIAN.Net
03.03.2009 20:03 GMT+04:00

/PanARMENIAN.Net/ The International Monetary Fund (IMF) will consider
the possibility to grant Armenia $540 mln to renew the country’s
reserves. The possibility of the credit grant will have been negotiated
by the end of the week. The resourses will be granted for the period
of five years, with a three-year 154% privilege annually. It is worth
mentioning that in order to overcome the negative effects of the world
crisis, the World Bank will grant Armenia $525 mln loan. Armenia was
promised another $500 mln by its geostrategic partner Russia.