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YEREVAN. – The World Bank (WB) and the International Monetary Fund (IMF) took very hard Acting Prime Minister Nikol Pashinyan’s remarks regarding project implementation units (PIUs) and foundations, as he called these institutions the biggest hubs of corruption in Armenia, Hraparak (Square) newspaper reported.

“In the meantime, these organizations [the WB and the IMF] not only implement major projects with these PIUs, but also oversee the spending of the financial means provided to them. And if Pashinyan carries out his promise and closes all PIUs, SNCOs and foundations [in Armenia], not only a large number of people—including foreigners—will be deprived of their jobs, but, also, after the negative [respective] assessment by these international financial organizations [the WB and the IMF], they may not give us [Armenia] loans from outside [anymore], more harshly demand the amount of the provided loans, and in general, cooperation with us from outside will be stopped, since the WB and IMF view on these matters often becomes decisive,” Hraparak wrote.

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