YEREVAN, April 17. / ARKA /. The Armenian government has approved today a decision by IMF Board of Governors on December 15, 2010 to increase the quota for Armenia from 98 million SDR to 128.8 million SDR.
Acting finance minister David Sarkisian explained that in 2010 the IMF had revised quotas upward, which reflects more precisely the weight of IMF member countries in international trade.
The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves. Its value is based on a basket of four key international currencies, and SDRs can be exchanged for freely usable currencies.
On April 17, one SDR was valued at USD 1.5481. -0 –
