ArmInfo. Armenia has changed its representative to the International Monetary Fund. Armenian Prime Minister Karen Karapetyan signed the relevant decision on October 4.
The press office of the Armenian Government reports that the incumbent Finance Minister Vardan Aramyan will replace Gagik Khachatryan, the former finance minister, as Armenia's representative to the IMF.
The Republic of Armenia became a member of the International Monetary Fund on April 28, 1992, according to the Armenian Law "On Armenia's accession to the International Monetary Fund, the International Bank of Reconstruction and Development, the International Finance Corporation, the International Development Association, the European Bank for Reconstruction and Development, Multilateral Investment Guarantee Agency, and International Centre for Settlement of Investment Disputes". To mitigate the impact of the global economic crisis, the IMF provided a loan in the amount of SDR 127.6 million in the framework of Stand-by Arrangement program (Agreement signed between Armenia and WB in 2009), and later on, IMF provided a loan in the amount of SDR 101.8 million to the Government of the Republic of Armenia in the framework of the Extended Credit Facility program (Agreements signed between the RA and the IMF in 2010 and 2012). Currently, Armenia continues its effective cooperation with the International Monetary Fund.
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