Friday, 10 April 2009
RA Prime Minister Tigran Sargsyan received newly appointed IMF regional director for Middle East and Central Asia Masoud Ahmed. The meeting was attended by IMF representative in Armenia Nienke Oomes.
Pleased with the current status of bilateral cooperation, the Prime Minister noted that the global crisis will be easier to cope with through close cooperation with international financial institutions inclusive of the IMF.
The IMF regional director, too, stressed that the Fund appreciates the cooperation with Armenia and is prepared to back our country in its anti-crisis efforts.
At the request of Masoud Ahmed, Tigran Sargsyan briefed him on recent economic developments and the current situation in Armenia, as well as on the government’s anti-crisis action. The head of government stressed that social expenditure – wages, pensions and benefits, educational and health care spending – are protected in the State budget. At the same time, a special focus is placed on GDP growth-oriented measures. The Prime Minister further advised that an arrangement is up with the World Bank to set up a task force to work out macroeconomic forecasts and eventual scenarios for Armenia.
The Regional Director said to be appreciative of those steps taken in Armenia towards the maintenance of financial stability and the return to the floating rate policy. In his words, the IMF is trying to keep by more flexible approaches in providing State assistance allowing for actual requirements instead of the quotas applicable. In this context, Masoud Ahmed said should the Government‘s social policy and the Fund’s flexibility prove effective, the IMF might look at the possibility of providing Armenia with additional support.
