Decision To Double IMF Borrowing Limits Does Not Have Direct Implica

DECISION TO DOUBLE IMF BORROWING LIMITS DOES NOT HAVE DIRECT IMPLICATIONS FOR ARMENIA

ArmInfo
2009-04-28 18:52:00

The Executive Board of the International Monetary Fund (IMF) agreed
last week to double the borrowing limits of the poorest countries under
the Poverty Reduction and Growth Facility (PRGF) and Exogenous Shocks
Facility (ESF) arrangements to help low-income countries severely
affected by the global economic downturn.

According to Nienke Oomes, IMF Resident Representative in Armenia,
this does not have any direct implications for Armenia, since Armenia
currently has a Stand-By Arrangement with the IMF, and financing under
Stand-by Arrangements has not been affected by the recent decision.

From: Emil Lazarian | Ararat NewsPress

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS