{"id":249406,"date":"2020-06-24T13:16:01","date_gmt":"2020-06-24T13:16:01","guid":{"rendered":"https:\/\/armbanks.am\/2020\/06\/24\/249406\/"},"modified":"2020-06-24T13:16:01","modified_gmt":"2020-06-24T13:16:01","slug":"armenian-parliament-is-considering-ratification-of-315-million-loan-agreement-with-imf","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2020\/06\/24\/249406\/","title":{"rendered":"Armenian parliament is considering ratification of $315 million loan agreement with IMF"},"content":{"rendered":"\n<p><strong>YEREVAN, June 24. \/ARKA\/. <\/strong>An emergency session of the Armenian parliament discussed today ratification of an  agreement with the IMF regarding the use of the $280 million loan, allocated to Armenia in May 2019, and attraction of an additional loan in the amount of $35 million. The money is to help Armenia fight the coronavirus outbreak and mitigate its economic consequences.<\/p>\n\n\n\n<p>Deputy Minister of Finance Armen Hayrapetyan said the coronavirus pandemic has been affecting Armenian government&#8217;s revenue collection rate. To mitigate the pandemic&#8217;s consequences the government decided to allocate 150 billion drams ($315 million) to finance a wide range of coronavirus-related compensatory measures, including cash payments to a large part of the population, financial assistance to businesses and loan subsidies for farmers.<\/p>\n\n\n\n<p>\u201cOn the one hand, a shortfall in the tax revenues, on the other hand, an increase in social assistance spending led to a financial gap of 250-260 billion drams,&#8221; Hayrapetyan said.<\/p>\n\n\n\n<p>He said the $280 million loan, which was allocated to Armenia by IMF in May 2019 has not been used until now, &#8216;but now we can use the money as the need has arisen.&#8221;<\/p>\n\n\n\n<p>He said after the ratification of the agreement, the money will be transferred to the treasury account and can be used. The remaining $35 million will be available in September.<\/p>\n\n\n\n<p>He said the loan is provided at the rate of 1.3%, which is significantly lower than the current rates.<\/p>\n\n\n\n<p>The Armenian authorities say the emergency borrowing is justified even though it will lead to a sizable increase in the country&#8217;s foreign debt. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An emergency session of the Armenian parliament discussed today ratification of an  agreement with the IMF regarding the use of the $280 million loan, allocated to Armenia in May 2019, and attraction of an additional loan in the amount of $35 million. The money is to help Armenia fight the coronavirus outbreak and mitigate its economic consequences<\/p>\n","protected":false},"author":1,"featured_media":157305,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[15837,15917,13068,12309],"class_list":{"0":"post-249406","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy-en","8":"category-news","9":"tag-armenia-2","10":"tag-imf-2","11":"tag-loan-agreement","12":"tag-parliament"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/249406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=249406"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/249406\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/157305"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=249406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=249406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=249406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}