Tuesday, September 18 2012 21:30

Armenian PM meets with Head of IMF Mission in Armenia


ArmInfo. Despite unfavorable developments in the region and the world, the IMF is satisfied with Armenia's economic performance, Head of the IMF Mission in Armenia Mark Horton said during a meeting of Armenia's Prime Minister Tigran Sargsyan with an IMF delegation on Tuesday.

According to the press service of the Armenian Government, Sargsyan expressed satisfaction with the success of IMF projects in Armenia and stressed the importance of the country's compliance with its budgetary obligations (low deficit and inflation and high economic growth).

Horton told Sarsyan about the IMF's three-year EFF/ECF arrangement for Armenia and the results of the visit of the IMF delegation. He said that they had conducted the fifth review of the EFF/ECF programs.

Horton pointed out that Armenia is showing high economic growth and impressive budget performance - especially compared with its neighboring and some European states - but has much to do yet.

The sides discussed the key directions of Armenia's economic policy and the prospects for economic development.

To recall, the IMF's three-year EFF/ECF project worth a total of 266.8 mln SDR or nearly 290% of Armenia's quota ($413.4 mln) was approved by the IMF Executive Board on 28 June 2010.
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