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IMF AND WB TO ALLOCATE ARMENIA $30 BILLION FOR POVERTY REDUCTION AND ECONOMIC GROWTH

December 3, 2004, the Executive Committee of the International Monetary Fund will discuss the issue of allocating Armenia the last $10 billion tranche within the frames of the credit program for poverty reduction and economic growth in the country, Armenian Minister of Finance and Economy Vardan Khachatrian stated at today’s press conference. In his words, the issue was considered during the meeting of the delegation headed by him and IMF person in charge for the Eurasian region Enrique Gelbart. The Minister stated that Armenia will continue cooperation with the organization and informed that before the end of the year Armenia can receive a $20 million credit from the WB for poverty reduction. According to him, the issue of providing Armenia with the credit is to be discussed during the sitting of the WB Board of Directors on November 18.

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