Thursday, 21 July 2005
Today RA Prime Minister A. Margaryan has met with IMF Deputy Managing Director Mr. Augustin Karstens and the members of his delegation. Satisfied at the current level of cooperation with the IMF, the Prime Minister stressed that the joint work towards reforming our country's economy was carried out in an atmosphere of mutual understanding and went on to thank the IMF for the assistance provided to develop and subsequently realize the PRSP. He prioritized the proper implementation of the PRSP so as it might have a positive impact in terms of improving the national economy and the living conditions in the country. In this context, the Interlocutors have referred to Armenia's macroeconomic performance indicators, the challenges faced and the possible ways to their solution. Mr. A. Margaryan mentioned that macroeconomic performance was in line with the targets set, moreover, in the light of the progress had, the government would have to reconsider the indices in the near future. On behalf of the Fund, Mr. Karstens expressed willingness to provide the government with the needed expert assistance in this matter, if necessary. He said to be pleased with Armenia's outstanding economic achievements and added that the Fund appreciated the efforts made by the Armenian authorities to ensure proper implementation of both past arrangements and the new program of cooperation, which was approved in May, 2005.
The IMF Deputy Managing Director welcomed GOA's drive for reforming domestic tax and customs services which, according to him, was crucial to ensuring transparency in economic matters, enhancing executive efficiency and improving the overall investment environment.
The Parties have also referred to our country's fiscal and monetary policy, the appreciation of the Armenian Dram and the development of the financial sector. Mr. Karstens has noted that, according to their observations, Armenia had been quite successful in defying the exchange rate-related challenges. He said that the appreciation of the national currency was first of all conditioned by increased incoming financial flows and emphasized the need in taking effective measures for mitigating its consequences. In this matter, too, he offered the IMF's assistance as welcomed by the Prime Minister. During the meeting, the Prime Minister and the Deputy Managing Director also discussed other issues regarding their future cooperation.
