Armenia`s Deputy Minister of Finance presents country`s economic  development strategies at t the annual meetings of IMF, WB Board of  Governors 

ArmInfo. Deputy Minister of Finance of Armenia Eduard Hakobyan presented the country's economic  development strategies at the annual meetings of the Board of Governors of the International Monetary Fund (IMF) and the World Bank (WB).

As reported by the press service of the Ministry of Finance of  Armenia, during the meeting the Deputy Minister spoke about the  socio-economic situation in Armenia, the pace of economic growth and  the process of implementing reforms. He emphasized the importance of  stimulating investment, increasing competitiveness in global markets  and strengthening social programs. Eduard Hakobyan also noted the  important role of international financial organizations in promoting  Armenia's development.

The parties also discussed global financial challenges, as well as  means and opportunities for ensuring economic stability.

The Deputy Minister also held separate meetings with the World Bank  Vice President for Europe and Central Asia Antonella Bassani, IMF  Deputy Managing Director Bo Li, as well as with high-ranking  representatives of the IMF and the World Bank, and other foreign  partners. Recall that earlier the IMF press service reported that  Armenia will receive a loan of $24.5 million to cover the budget  deficit. The next tranche is expected to be provided in mid-December  of this year under the Stand-By Agreement. The total amount of the  loan, signed in December 2022, is about $170 million.