Problems Between IMF Armenia Resolved

YEREVAN (Noyan Tapan)–Certain principal problems between Armenia and the International Monetary Fund have been solved and the sides are confident that their negotiations will come to a successful end.

This was noted at a Monday meeting between Prime Minister Robert Kocharian and the IMF delegation in Armenia.

The IMF delegation led by Thanos Catsambas–deputy head of south section of the IMF’s Second European Department–is in Armenia on a two-day visit aimed at continuing negotiations with the Armenian government regarding the ESAF credit program for this year.

Catsambas voiced satisfaction with the current stage of negotiations with the government and CB–and emphasized that they will end this week after which the report will be brought for approval at the Council of IMF Executive Directors.

Kocharian said that the achieved macroeconomic stability is not enough and mentioned industrial development among the main tasks of the government’s economic policy. The government is currently reconsidering the industrial policy and specifying the prospective directions of its development.

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