IMF Allotted USD 56.1 Million Loan to Armenia.

International Monetary Fund (IMF) allotted a loan of USD 56.1 million to Armenia commanding the policy of the country to try to cut the budget deficit and repress depreciation. At the same time, IMF noted that the Armenian Central Bank has not yet achieved its goals to create reserves. 

The Fund urged on the Armenian government to carry out more structural reforms to promote the growth of the private sector and competition, and warned about the “increasing risks of reduction coming from the global environment that can strengthen the current vulnerability”. 

IMF stresses the importance of more flexibility of the dram exchange rate, business environment and boosting of competition.