IMF APPROVES $73.6 MILLION DISBURSEMENT FOR ARMENIA

Panorama.am
13:10 30/03/2010

Economy

The Executive Board of the International Monetary Fund (IMF) yesterday
completed the third review of Armenia’s economic performance under
a program supported by a Stand-By Arrangement (SBA). The decision
enables the immediate release of an amount equivalent to SDR 48.485
million (about US$73.6 million), bringing total disbursements so far
an amount equivalent to SDR 350.425 million (about US$532.2 million),
IMF reported.

Following the Executive Board’s discussion on Armenia, Mr. Murilo
Portugal, Deputy Managing Director and Acting Chair, stated: "Armenia’s
performance under its Stand-By Arrangement with the Fund has been
strong, and the economic recession appears to have bottomed out,
aided by supportive monetary and fiscal policies."