ARMENIA MAY RECEIVE $60 MILLION FROM IMF LATER THIS YEAR

ARKA
Sep 16, 2009

YEREVAN, September 16. /ARKA/. International Monetary Fund may lend $60
million to Armenia later this year, Mark Lewis, head of International
Monetary Fund’s mission in Armenia, said on Wednesday.

The IMF mission was in Armenia from September 3 to 16 for discussing
the second study of the 28-month stand-by agreement.

Lewis said that the mission and the government reach an accord on the
policy package aimed at summarizing the results of the second study.

He said that the IMF’s executive board is expected to gather in late
October to discuss the summarization of the results of the study,
and the board’s positive conclusion will enable Armenia to attract
SDR 37.72 (about $60 million).

Answering ARKA News Agency’s question, Lewis said that the IMF
extends this credit to the Central Bank of Armenia for replenishing
international reserves.

It means these funds are not intended for financing particular
programs.

The executive board of the International Monetary Fund decided in
June to enlarge the bailout credit to Armenia from $540 million to
$820 million, of which $400 million have already transferred.