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IMF Delegation Arrives In Armenia For Two-Week Visit

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  • IMF Delegation Arrives In Armenia For Two-Week Visit

    IMF DELEGATION ARRIVES IN ARMENIA FOR TWO-WEEK VISIT

    Arka News Agency, Armenia
    Aug. 31, 2006

    YEREVAN, August 31. /ARKA/. An IMF delegation led by Hasan Al-Atrash,
    head of the Middle East and Central Asian department, arrived Thursday
    in Armenia for two-week visit. IMF Yerevan office reports that the
    delegation came to Armenia for monitoring the process of Poverty
    Reduction and Growth Facility program implementation by Armenia.

    The delegation will also discuss the IMF's Annual Article IV
    consultation.

    Global Insight Daily Analysis says IMF sees progress in the process
    of putting the program into reality in Armenia.

    According to the document, World Bank's International Development
    Association and International Monetary Fund point out that economic
    growth and double-digit GDP in Armenia as result of agriculture and
    construction development. They also point out low inflation rate and
    improving situation with foreign debt.

    National Statistical Service of Armenia says economic growth was
    recorded at 11.5% in Jan-July 2006, compared with the same period
    a year earlier. GDP grew 16.9% in June 2006, compared with the same
    month in 2005.

    International Monetary Fund has approved Poverty Reduction and Growth
    Facility, a tree-year credit program worth 23mln SDR (about $34.2mln),
    for Armenia.

    IMF-provided assistance to Armenia totals $350 million.
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