IMF ALLOCATES U.S. $73.6 TO ARMENIA

news.am
March 30 2010
Armenia

The International Monetary Fund (IMF) has allocated U.S. $73.6m to
Armenia under a credit agreement.

The IMF eadHeadHe4a;ISV BNHeadquarters in Washington informed ITAR-TASS
that Armenia has received over U.S. $532.

IMF Deputy Managing Director Murilo Portugal pointed out the serious
work carried out in Armenia. According to him, the Armenian economy
seems to be recovering after the crisis, which has been possible due
to emergency monetary and tax measures.

Mr. Portugal also pointed out that the Armenian economy is still facing
challenges, such as unstable recovery and external vulnerability.

He pointed out satisfactory capitalization of the Armenian financial
sector and the authorities’ work at anti-crisis measures. Further
reforms are of importance for stability in case of risks.