ARMENIA TO RECEIVE U.S. $150M FROM IMF

news.am
April 1 2010
Armenia

The International Monetary Fund (IMF) has approved the report
on cooperation with Armenia, which means that the program will
be continued, RA Prime Minister Tigran Sargsyan stated at the RA
Government’s sitting on April 1. "We will receive the IMF’s financial
aid under the program, about U.S. $150m. This means a go-ahead for the
implementation of our all international programs," the Premier said.

He also spoke of the mass media assessments of the RA Government’s
reserve funds at the Central Bank of Armenia (CBA). "I would like to
report that we have over 150bn AMD (about U.S. 375m) on our accounts
at the Central Bank including a stabilization fund, which can be
used for resolving socio-economic problems in case of unpredicted
circumstances," the Premier said.

He stated that Armenia’s financial and economic stability was not
undermined last year. "Moreover, we increased our reserves at the CBA,
which inspires hope that the 2010 projects will be implemented," T.

Sargsyan said.

NEWS.am reminds readers that the Government directed a total of U.S.

$320m to the CBA reserve fund from IMF credits last year. The lion’s
share of the funds was used for currency intervention.

From: Emil Lazarian | Ararat NewsPress