IMF may lend Armenia $150mln in the next four years Yerevan , December 27 . ArmInfo. Artur Yernjakyan. The cost of the IMF's new credit program in Armenia for 2014-2017 ranges within $120mln-150mln, Armenia's Prime Minister Tigran Sargsyan told journalists on Friday. "We are currently negotiating this program. It implies complex reforms and is very important for us," Sargsyan said. The key reason why the cost of the program is relatively low is that Armenia has stable macroeconomic indices and low budget deficit and needs no additional money for covering it. The new program was discussed by the Armenian Government and the IMF Mission in Armenia in Dec 2013 . The Executive Board of the International Monetary Fund (IMF) on June 24th completed the sixth and final review of Armenia's economic performance under a program supported by Extended Fund Facility (EFF) and Extended Credit Facility (ECF) arrangements. The completion of the review allows the authorities to draw an additional SDR 55 million (about US$84 million ), bringing total disbursements under the arrangements to the full SDR 266.8 million ( US$407.2 million ) available. The three-year EFF and ECF arrangements with Armenia were approved by the IMF's Executive Board on June 28, 2010 .
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Keurig Adds Peet's coffee, Alters Starbucks deal
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- U.S. to Relinquish Gov't Control Over Internet
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Some California Cities Seeking Water Independence
- Will Missing Malaysian Jet Prompt Aviation System Change?