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IMF PROPOSES $540 MILLION LOAN TO ARMENIA
Gita Elibekyan
"Radiolur"
03.03.2009 14:40
The Directorate of the International Monetary Fund (IMF) declared
today that Armenia has been adversely affected by the world
economic crisis. Mr. Dominique Strauss-Kahn, Managing director of
the International Monetary Fund, issued the following statement on
Armenia today:
"After many years of strong economic performance, Armenia has been
adversely affected by the global economic and financial crisis. In
response, the Armenian authorities have put together a strong and
credible economic program to address the deterioration in Armenia's
external outlook, restore confidence in the currency and financial
system, and protect the poor."
"The comprehensive policy package developed by the Armenian authorities
in consultation with IMF staff includes a floating exchange rate
regime with supporting monetary, fiscal and financial policies, as
well-targeted structural reforms. The authorities are also taking
measures to help offset the economic downturn and mitigate the impact
of the economic crisis on poor.
The strong measures that the authorities are taking justify the
exceptional level of access to Fund resources and deserve the support
of the international community," Mr. Strauss-Kahn said.
IMF Permanent Representative in Armenia Nienke Oomes met with
reporters today to present their predictions and suggest ways out of
the situation.
Nienke Oomes said that taking into consideration the extremely negative
influence of the economic crisis on Armenia, the IMF has proposed a
$540 million loan to the Armenian Government.
Gita Elibekyan
"Radiolur"
03.03.2009 14:40
The Directorate of the International Monetary Fund (IMF) declared
today that Armenia has been adversely affected by the world
economic crisis. Mr. Dominique Strauss-Kahn, Managing director of
the International Monetary Fund, issued the following statement on
Armenia today:
"After many years of strong economic performance, Armenia has been
adversely affected by the global economic and financial crisis. In
response, the Armenian authorities have put together a strong and
credible economic program to address the deterioration in Armenia's
external outlook, restore confidence in the currency and financial
system, and protect the poor."
"The comprehensive policy package developed by the Armenian authorities
in consultation with IMF staff includes a floating exchange rate
regime with supporting monetary, fiscal and financial policies, as
well-targeted structural reforms. The authorities are also taking
measures to help offset the economic downturn and mitigate the impact
of the economic crisis on poor.
The strong measures that the authorities are taking justify the
exceptional level of access to Fund resources and deserve the support
of the international community," Mr. Strauss-Kahn said.
IMF Permanent Representative in Armenia Nienke Oomes met with
reporters today to present their predictions and suggest ways out of
the situation.
Nienke Oomes said that taking into consideration the extremely negative
influence of the economic crisis on Armenia, the IMF has proposed a
$540 million loan to the Armenian Government.