YEREVAN, March 21. /ARKA/. Armenia Minister of Economic Development and Investments Suren Karayan met on Wednesday with an International Monetary Fund (IMF) team, led by the head of the IMF Armenia Mission Hossein Samiei to discuss the IMF’s new program for Armenia, which the ministry described in a press release as ‘unique in its content’ in view of Armenia’s progressive economic development.
The parties stressed that the program can serve as a positive impetus for new investment.
Karayan was said to have singled out the unprecedented high economic growth registered in 2017, stressing also the need for ongoing investment.
According to the minister, the IMF is a constant partner in these processes. The importance of the ongoing reforms was emphasized in the context of ensuring higher economic growth rates.
IMF’s previous “Expanded Financing Facility” (EFF) program with a total value of 82.21 million SDR or $111.57 million was approved on March 7, 2014. During the three years the IMF provided Armenia with $100-110 million. The last tranche was transferred in June 2017.
In 2017, Armenia registered an economic growth of 7.5%, up form the projected 3.2%. It was the highest growth in the region, across the CIS and the Eurasian Economic Union. -0-
