RA PRIME MINISTER TIGRAN SARGSYAN RECEIVED NEWLY APPOINTED IMF REGIONAL DIRECTOR FOR MIDDLE EAST AND CENTRAL ASIA MASOUD AHMED. THE MEETING WAS ATTENDED BY IMF REPRESENTATIVE IN ARMENIA NIENKE OOMES
Friday , 10 April 2009
Pleased with the current status of bilateral cooperation, the Prime
Minister noted that the global crisis will be easier to cope with
through close cooperation with international financial institutions
inclusive of the IMF.
The IMF regional director, too, stressed that the Fund appreciates
the cooperation with Armenia and is prepared to back our country in
its anti-crisis efforts.
At the request of Masoud Ahmed, Tigran Sargsyan briefed him on
recent economic developments and the current situation in Armenia,
as well as on the government’s anti-crisis action. The head of
government stressed that social expenditure – wages, pensions and
benefits, educational and health care spending – are protected in
the State budget. At the same time, a special focus is placed on GDP
growth-oriented measures. The Prime Minister further advised that an
arrangement is up with the World Bank to set up a task force to work
out macroeconomic forecasts and eventual scenarios for Armenia.
The Regional Director said to be appreciative of those steps taken in
Armenia towards the maintenance of financial stability and the return
to the floating rate policy. In his words,20the IMF is trying to keep
by more flexible approaches in providing State assistance allowing
for actual requirements instead of the quotas applicable. In this
context, Masoud Ahmed said should the Government’s social policy and
the Fund’s flexibility prove effective, the IMF might look at the
possibility of providing Armenia with additional support.