YEREVAN, December 5. / ARKA /. IMF Resident Representative in Armenia Teresa Daban Sanchez has confirmed today the installment of the second tranche under the Extended Fund Facility (EFF).
IMF’s two tranches to Armenia under the EFF amount to a total of 23.48 million SDR. The first tranche worth $17 million was provided in March 2014, and all the performance targets were achieved in the first half of the year, according to Mark Horton, head of IMF Armenia mission that visited Armenia on September 17-30.
The second tranche worth $17 million under an EFF arrangement is expected in December 2014.
Speaking at a news conference today Ms. Sanchez said everything was actually ready for the disbursement of the second tranche.
On March 7, the IMF Executive Board approved the agreement with Armenia about 82.21 million SDR ($127.6mln or 89.4% of Armenia’s quota) under a 38-month EFF program. –0—
