Wednesday, December 20 2017 11:59
Naira Badalian

Karayan and Samiei discussed further priority areas for cooperation between Armenia and the IMF

ArmInfo. The Minister of  Economic Development and Investments of Armenia Suren Karayan  received the delegation of the International Monetary Fund (IMF) led  by the head of the Armenian mission Hossein Samiei. The parties  discussed new possible cooperation programs.

According to the press service of the RA Ministry of Economic  Development, during the meeting the interlocutors touched upon the  program of the Armenian government for the future 5-year anniversary,  the economic priorities of the Armenian Cabinet of Ministers and  forthcoming events in this context. Karayan and Samiei discussed  further priority areas for cooperation between Armenia and the IMF.

It should be reminded that the IMF provided software assistance in  the framework of "Long-Term Financing" (EFF) in Armenia in 2014. "The  goal of the program is to assist the country's economy, by supporting  the balance of payments, as well as macroeconomic policy coordinated  with the Armenian authorities," Hossein Samiei said earlier. On  December 9, 2016, the Executive Board of the International Monetary  Fund (IMF) completed the fourth final audit of the implementation of  the Long-Term Financing Program (EFF) in Armenia, which resulted in  the Fund approving financing of SDR 15.65 million (special drawing  rights) about $ 21.24 million. 

Thus, as noted in the IMF report, the total amount of appropriations  was brought to 66.52 million SDR or about $ 90.28 million. The  program with a total cost of 82.21 million SDR or $ 111.57 million  was approved on March 7, 2014.

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