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ITAR-TASS, Russia
December 11, 2012 Tuesday 03:34 AM GMT+4
IMF Board endorses issuance of loan tranche to Armenia
WASHINGTON December 11
- Board of Governors of the International Monetary Fund on Monday
endorsed the allocation of a regular tranche of $51.43 million to
Armenia, the press service of the IMF said.
The report said the decision to issue the loan was taken upon the
results of a new - fifth in succession - scrutiny of the Armenian
authorities' compliance with the IMF's three-year fund facility
program launched June 28, 2010.
All in all, Armenia will get access to $ 408.7 million within its
framework. With account of the current tranche, it has already
received $ 324.4 million of that amount.
In addition, the Board of Governors held the traditional annual
bilateral consultations with Armenia under the provision of Article 4
of the IMF's Charter.
Deputy Managing Director Nemat Shafik said in a comment on the
discussion that Armenia continues re-emerging from a deep slide, which
it lived through in 2008 and 2009 in the context of a global financial
slump.
The growth of Armenia's economy picked pace in 2012 and experts
believe that the country will display its potential in full in 2013,
she said.
From: Emil Lazarian | Ararat NewsPress
December 11, 2012 Tuesday 03:34 AM GMT+4
IMF Board endorses issuance of loan tranche to Armenia
WASHINGTON December 11
- Board of Governors of the International Monetary Fund on Monday
endorsed the allocation of a regular tranche of $51.43 million to
Armenia, the press service of the IMF said.
The report said the decision to issue the loan was taken upon the
results of a new - fifth in succession - scrutiny of the Armenian
authorities' compliance with the IMF's three-year fund facility
program launched June 28, 2010.
All in all, Armenia will get access to $ 408.7 million within its
framework. With account of the current tranche, it has already
received $ 324.4 million of that amount.
In addition, the Board of Governors held the traditional annual
bilateral consultations with Armenia under the provision of Article 4
of the IMF's Charter.
Deputy Managing Director Nemat Shafik said in a comment on the
discussion that Armenia continues re-emerging from a deep slide, which
it lived through in 2008 and 2009 in the context of a global financial
slump.
The growth of Armenia's economy picked pace in 2012 and experts
believe that the country will display its potential in full in 2013,
she said.
From: Emil Lazarian | Ararat NewsPress