IMF to continue supporting development in Armenia: Resident Representative

15.10.2013 12:28
IMF to continue supporting development in Armenia: Resident Representative

YEREVAN, October 15. /ARKA/. The International Monetary Fund (IMF) will continue supporting development of Armenia and implementation of government programs in various fields, IMF resident representative to Armenia Teresa Daban Sanchez said in handing out her appointment letter to Armenia’s foreign minister Edward Nalbandyan.

Teresa Daban Sanchez replaced the former IMF resident representative in Armenia Guillermo Tolosa on June 4.

Nalbandyan expressed confidence IMF-Armenia cooperation will remain as effective with the newly appointed representative as it was before.

Armenian foreign minister appreciated IMF’s comprehensive assistance and support in implementation of reforms in Armenia since 1992.

According to an earlier report, the IMF is planning to launch a new program in Armenia similar to the Extended Credit Facility (EFC). In particular, on July 2 the IMF executive board completed its sixth and final check-up of Armenia’s performance under the Extended Financing Facility (EFF) and the EFC. As a result, an additional of $84 million (55mln SDR) will be provided to the country. Total payments to the country under the agreements will amount to $407.2 million (266.8mln SDR) –0--


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