Armenian prime minister and IMF official discuss economy and EFF status
Armenian Prime Minister Hovik Abrahamyan and International Monetary Fund (IMF) Mission Chief to Armenia Mark Horton discussed on Friday the status of the Extended Fund Facility (EFF) arrangement with Armenia, the government press office reported.
It said in this context, the parties looked into the current state of the Armenian economy, development trends, fiscal and monetary policies as well as the ongoing reforms.
Mr. Abrahamyan was said to have stressed that the Armenian government will continue reforms to ensure economic growth, improved business environment, support for exports and attraction of fresh investment.
Mr. Horton, in turn, noted the importance of the continuation of measures to ensure economic growth and stability.
In 2014 March the IMF Executive Board approved an agreement with Armenia on financing in the amount of 82.21 mln. SDR ($127.6 mln. or 89.4% of Armenia's quota) within the 38-month program Extended Fund Facility (EFF) for the implementation of economic programs.
This program will be implemented on the basis of successfully completed three-year program within the framework of agreements "Extended Fund Facility" and "credit expansion", which ended in July 2013. Under these two agreements, Armenia was granted 266.80 million. SDR (about $ 410 million.). -0-