IMF to extend USD 56 million disbursement to Armenia in economic reform program frameworkSeptember 29, 2010 - 20:20 AMT PanARMENIAN.Net - International Monetary Fund will extend a disbursement of USD 56 million to Armenia, Guillermo Tolosa, IMF Resident Representative in Armenia stated. “An International Monetary Fund (IMF) mission headed by Ms. Ratna Sahay, Deputy Director of the IMF’s Middle East and Central Asia Department, visited Yerevan from September 9−24, 2010. The team completed the 2010 Article IV Consultation discussions and reached a staff-level agreement with the authorities on their economic reform program under the First Review of the Extended Fund Facility (EFF)/Extended Credit Facility (ECF) Arrangements with the Republic of Armenia,” Tolosa told a news conference in Yerevan. “The total financial commitment under this IMF-supported program amounts to USD410 million. The IMF’s Executive Board is expected to consider Armenia’s request for the completion of the first review and conclude the Article IV consultation in November 2010. Upon approval, a disbursement of USD 56 million would be made available to Armenia,” He pointed out. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia-Qatar ties discussed in Doha The Secretary of Armenia’s Security Council met with the Deputy Secretary General of the National Security Council of Qatar. ARARAT special evening dedicated to Aznavour's 100th Anniv. On May 20 ARARAT legendary Armenian brandy, celebrated the centennial of Maestro Charles Aznavour with a special event. Surveying works underway in Armenia’s Kirants Surveying works are underway in the Armenian village of Kirants in the northern Tavush province. Armenia calls for prohibiting threats of attacks on nuclear facilities Armenia has raised the need for a treaty prohibiting attacks on nuclear facilities devoted to peaceful purposes. |