The International Monetary Fund (IMF) has approved the report on cooperation with Armenia, which means that the program will be continued, RA Prime Minister Tigran Sargsyan stated at the RA Government’s sitting on April 1. “We will receive the IMF’s financial aid under the program, about U.S. $150m. This means a go-ahead for the implementation of our all international programs,” the Premier said.

He also spoke of the mass media assessments of the RA Government’s reserve funds at the Central Bank of Armenia (CBA). “I would like to report that we have over 150bn AMD (about U.S. 375m) on our accounts at the Central Bank including a stabilization fund, which can be used for resolving socio-economic problems in case of unpredicted circumstances,” the Premier said.

He stated that Armenia’s financial and economic stability was not undermined last year. “Moreover, we increased our reserves at the CBA, which inspires hope that the 2010 projects will be implemented,” T. Sargsyan said.

NEWS.am reminds readers that the Government directed a total of U.S. $320m to the CBA reserve fund from IMF credits last year. The lion’s share of the funds was used for currency intervention.

T.P.