13:05,

YEREVAN, APRIL 15, ARMENPRESS. Armenia’s government will direct the 280 million USD aid provided by the International Monetary Fund (IMF) for mitigating the consequences of the novel coronavirus (COVID-19), deputy minister of economy Avag Avanesyan said at a press conference.

“The IMF provides aid to Armenia worth 280 million USD. These funds are available to our government because we have constantly improved the business climate and ensured the protection of investments, as well as carried out reforms. As a result, a trust has been formed in the international community that Armenia will spend these funds for mitigating the consequences of the coronavirus”, Avanesyan said.

He assured that the main purpose of spending these sums is going to be the major strengthening of the healthcare system, as well as mitigation of social and economic shocks. “This is a loan without terms, in other words the government will choose on what to spend these sums”, he said.

On April 10 the International Monetary Fund (IMF) team reached a staff level agreement with the Armenian authorities for the completion of the second review of Armenia’s reform program, which is supported by the IMF, the IMF said in a statement. The statement says the authorities have requested an increase in financial support provided by the IMF for Armenia and, pending Executive Board approval, around $280 million will be available immediately after the Board meeting.

According to the latest data, the number of confirmed cases of coronavirus in Armenia has reached 1,111. The total number of recovered patients is 297. The active cases are 797.

Reported by Lilit Demuryan

Edited and translated by Aneta Harutyunyan