IMF Sets Conditions on Loan Allocation

YEREVAN (Noyan Tapan)–An International Monetary Fund economic recovery loan–for which Armenia was approved in May–was scheduled to be disbursed in three paymen’s.

The first payment was received in June–while for the second increment–the IMF has set specific conditions–before the loan can be allocated.

The Central Bank of Armenia reported that the IMF is going to allocate the second installment of the credit to Armenia in the amount of $47 million on Nov. 30 of this year. However–the IMF has set certain conditions and it is necessary for Armenia to guarantee macroeconomic and economic conditions.

The report did not mention what those conditions were.

CB points out that becoming a member of the IMF Agreement–Armenia assures the world community that its economic policy will aim at raising the living standards both in Armenia–and in other countries.

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