March 3, 2009 - 20:03 AMT
IMF to allocate Armenia $540 mln
The International Monetary Fund (IMF) will consider the possibility to grant Armenia $540 mln to renew the country's reserves. The possibility of the credit grant will have been negotiated by the end of the week. The resourses will be granted for the period of five years, with a three-year 154% privilege annually. It is worth mentioning that in order to overcome the negative effects of the world crisis, the World Bank will grant Armenia $525 mln loan. Armenia was promised another $500 mln by its geostrategic partner Russia.