YEREVAN, May 31. /ARKA/. The International Monetary Fund aims to allocate $100 million in financial aid to Armenia in 2012, IMF Resident Representative in Armenia Guillermo Tolosa said in the interview with ARKA news agency.
New funds will be directed to total budget support and replenishment of the Central Bank’s reserves, he added.
According to him the main purpose of the program is to continue the policy of fostering macroeconomic stability.
Tolosa noted that IMF continues focusing on tax and financial spheres in Armenia.
He also clarified that Armenia received total of $114 million from the Fund in 2011
According to IMF Resident Representative in Armenia, the Fund reports a progress in the process of its programs’ implementation in the country and mutual cooperation.
In reference to this he said that the government had managed to deal with the budget deficit, Central Bank’s reserves, rise in monetary mass as well as administered effectively monetary-credit policy, monitoring of financial sector, etc.
Tolosa noted that the Armenian government will repay $156 million of its debt to IMF this year.
According to IMF Armenia, the republic received 745 million SDR ( over $1.1 billion) since 1992. The total debt of Armenia to the Fund is 536 million SDR ( nearly $812.8 million). –0–
