YEREVAN (Armenpress)–Armenia expects to receive $35 million to $45 million this year as a first tranche of a new loan from the International Monetary Fund (IMF)–Tigran Sarkisian–president of Armenia’s Central bank said.
Tigran Sarkisian stated that he was confident that an agreement with the IMF would be signed by the end of the year. The new loan will be particularly aimed at fighting poverty (Poverty Reduction & Growth Facility)–he said.
The three-year IMF program will be worth a total of $120 million to $150 million–Sarkisian said.
Armenia joined the IMF in 1992. Between 1994 and 1996 the country signed three loan agreemen’s with the Fund worth a total of 187 million SDR. The programs were completed at the end of 1999.