ArmInfo. Armenian Minister of Economy and Investments Suren Karayan and IMF representatives discussed further directions of cooperation. According to Armenian Economy and Investments Ministry press service, during the meeting, the Permanent Representative of IMF to Armenia Teresa Daban Sanchez introduced Julia Ustyugova, who will replace her in this post in 2 months. Ustyugova shared her expectations about her activities in Armenia.
In his turn, Minister Karayan noted readiness for deepening cooperation with the IMF. "Directions on which the International currency fund cooperates with Armenia, has a direct impact on the economy of the country: fiscal, monetary policy, improving the business environment, and others. I am interested in our cooperation would be closer, "- said the Minister.
Suren Karayan also greeted Yulia Ustyugova and expressed confidence that effective cooperation will develop between IMF and Armenia.
IMF representatives asked the Minister about the economic aspects of the new program of the Armenian Government. Karayan presented to them the main economic goals and tasks that underlie the program.
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.