Serzh Sargsyan: Armenia to enjoy economic recovery this year

20.05.2010 17:49
Serzh Sargsyan: Armenia to enjoy economic recovery this year

YEREVAN, May 20. /ARKA/. Armenian President Serzh Sargsyan thinks that Armenia will enjoy economic recovery this year.

He thinks that indicators of the first four months of this year give ground for thinking so.

“Along with that, we should continue reforms this year,” the presidential press office quoted the head of state as saying Wednesday at his meeting with Mark Lewis,

IMF’s mission chief to Armenia, and Guillermo Tolosa, the IMF resident representative in Armenia.

Sargsyan expressed appreciation of Lewisvisit to Armenia saying that the IMF representative has already met with the government and the central bank officials and reached an accord on a program based on particular arrangements.

Lewis informed the Armenian president about arrangements made between the IMF and the country’s government on a three-year financing and crediting program.

At their meeting, the Armenian president and the chief of IMF mission discussed key focuses of Armenia’s economic policy steps to be taken to spur the country’s economic development.

Lewis said that although economic environment is still adverse, but Armenia’s economy is gradually recovering, its financial sector is quite firm and state funds are run properly.

Inflation, business environment and poverty reduction were among the issues under discussion.

Lewis informed Sargsyan about criteria of support under the new cooperation program to be approved by the IMF executive board.

The executive board will consider this $392 million available financing program in late June.

Under this program, Armenia will get loans on more advantageous conditions than under Stand-By Arrangement. ---0---


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