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March 19
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YEREVAN. – The International Monetary Fund (IMF) Resident Representative in the Republic of Armenia (RA), Teresa Daban Sanchez, told Haykakan Zhamanak daily that the country’s external debt is now in the “discomfort range,” reported the daily.

‘“The RA government needs to take measures so that the debt against the GDP index begins to fall,’ said the IMF representative. 

“As for the bill—which is currently debated in the NA [i.e. National Assembly] special session—about making amendments to the Law on State Debt, whereby the government wants to remove the CB [i.e. Central Bank] debt from the limitations of the amount of state debt thereby getting the chance for engaging larger debts, as per Sanchez, this does not matter for the IMF.    

‘“The IMF, in its decisions, will take into account the total amount of debts of the Government and Central Bank of Armenia,’ said the IMF representative.

“She [also] informed that in September, the IMF will make new forecasts on the RA economy. According to Sanchez, [this time, however,] the economic indicators [of the country] may be slightly improved, which is due to a slight stabilization of the situation in the RF [i.e. the Russian Federation] economy,” wrote Haykakan Zhamanak.

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