IMF APPROVES $73.6 MILLION DISBURSEMENT FOR ARMENIA
Panorama.am
13:10 30/03/2010
Economy
The Executive Board of the International Monetary Fund (IMF) yesterday
completed the third review of Armenia’s economic performance under
a program supported by a Stand-By Arrangement (SBA). The decision
enables the immediate release of an amount equivalent to SDR 48.485
million (about US$73.6 million), bringing total disbursements so far
an amount equivalent to SDR 350.425 million (about US$532.2 million),
IMF reported.
Following the Executive Board’s discussion on Armenia, Mr. Murilo
Portugal, Deputy Managing Director and Acting Chair, stated: "Armenia’s
performance under its Stand-By Arrangement with the Fund has been
strong, and the economic recession appears to have bottomed out,
aided by supportive monetary and fiscal policies."
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