YEREVAN, October 1. /ARKA/. Armenia may get the second tranche worth $17 million from the IMF as part of Extended Fund Facility (EFF) in December, head of IMF mission in Armenia Mark Horton told reporters on Tuesday.
Back on March 7 the IMF Executive Board approved the agreement with Armenia about funding worth 82.21 SDR ($127.6mln or 89.4% of Armenia’s quota) in the framework of 38-month EFF program.
The first tranche was provided in March 2014, and all the targets were met in the first half of the year, Horton said.
Some structural reforms are delayed due to the government change, Horton said. Yet, the policies have not changed, he added. The real impact of these reforms will be seen in long term, Horton noted.
In general, Armenia has hard times ahead in terms of regional developments and the sanctions against its main partner, which means the authorities should use careful approaches in politics and show determination to implement structural reforms, Horton said.
The head of the mission also said the IMF Executive Board may consider extension of the second $17mln tranche already this December if Armenia maintains current indicators. The program will be implemented in three years, and the funds will be transferred in seven tranches, Horton added. –0–
