YEREVAN. – As promised during his previous press conference, the International Monetary Fund (IMF) Resident Representative in Armenia, Guillermo Tolosa, spoke in Armenian during Tuesday’s press conference. 

And even though Tolosa’s Armenian was fairly broken, and he read the Armenian-language statement with great difficulty, the journalists applauded his announcement.

Tolosa presented the results of the IMF mission under the headship of Mark Horton. The IMF delegation was in Armenia on March 14-27, to conduct discussions around the Extended Fund Facility (EFF).

Guillermo Tolosa noted that Armenia’s macroeconomic indicators have begun to improve, albeit the outside environment was not too “supporting.” Specifically, Armenia’s economic growth was 4.4 percent in 2011, whereas the inflation was less than 4 percent in February.