Armenian Prime Minister highly appreciates long-term cooperation of RA with IMF and WB

ArmInfo. Prime Minister of Armenia  Karen Karapetyan highly appreciated the long-term cooperation of the  Republic of Armenia with the International Monetary Fund (IMF) and  the World Bank (WB), calling it constructive and productive. This was  in Dilijan at the annual meeting of the countries of the subgroup of  the IMF and WB headed by Belgium and the Netherlands.

According to governmental press service, in his welcoming speech, the  prime minister noted that such meetings are a good platform both for  effective cooperation and for joint solution of the problems of the  participating countries. At the same time, he stressed the still  unused potential in this direction. According to him, thanks to the  assistance and constructive cooperation of the IMF over the past 25  years, Armenia managed to provide a stable macroeconomic environment  through fiscal and monetary policy, which is an important  prerequisite for ensuring the development of countries and inclusive  economic growth. 

Karen Karapetyan noted that although the countries that are members  of the Holland-Belgian subgroup are different in economic structures  and level of development, nevertheless today the world economic  challenges create problems that are typical for all states,  regardless of the foregoing. 

The head of the government of Armenia touched upon the prospects of  Armenia's economic development.  "The current economic policy of  Armenia is aimed at attracting investments and ensuring economic  growth by stimulating export industries," he said. As Karen  Karapetyan noted, Armenia aims at creating a favorable investment  environment through deep reforms, gradually strengthening the  country's competitiveness. "In parallel with the reforms implemented,  Armenia's economic policy is aimed at deepening international  economic relations and cooperation in various formats, in which the  IMF and the World Bank are most important," the prime minister  stressed.

To note, the members of the Dutch group at the IMF and the Belgian  group with the World Bank are Bulgaria, Israel, Luxembourg, Romania,  Ukraine, Belgium, Armenia, Bosnia and Herzegovina, Croatia, Cyprus,  Georgia, Macedonia, Moldova, Montenegro, the Netherlands. Menno Snel,  who represents the interests of the member countries in the Executive  Council of the IMF, heads the group. The meetings of this group  involve high-level officials and leading experts of the global  financial system.