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Official News

Tuesday, 30 April 2013

The IMF Praises the Results of the Program Implemented with the RA Government




Prime Minister Tigran Sargsyan received the Head of the Armenian mission of the International Monetary Fund (IMF) Mark Horton and Resident Representative of IMF in Armenia Guillermo Tolosa.
The Foundation officials congratulated Tigran Sargsyan on his re-election as Prime Minister of the RA and wished him further success.
Speaking about the final stage of the Extended Financing/Extended Credit Program, which commenced in June 2010 and is to be concluded in September 2013, Mark Horton noted with satisfaction that all the targets of the program have been met without any serious issues.
The Head of the Armenian mission of the International Monetary Fund congratulated Prime Minister Tigran Sargsyan on the reduction of the budget deficit in 2013 and the significant growth of revenues. Mark Horton praised the economic growth in the country, noting that it exceeded the IMF’s forecast of 6, 2 percent growth. According to him, it was made possible due to the investments in mining, processing and other fields. At the same time, Mark Horton expressed the hope that this year the Government will also be able to exceed the IMF’s forecast of the economic growth rate in Armenia.
The Head of the Armenian mission found the implementation of pension reforms in Armenia exemplary and noted that they have resulted in establishment of a strong legal framework as the world’s best institutions are getting involved in Armenia.
Mark Horton expressed the hope that the high level of bilateral cooperation will be a good basis for the implementation of new IMF programs.
In this context, the parties discussed issues related to the new program, the improvement of the business environment in Armenia, and investments.
The Prime Minister thanked Resident Representative of IMF in Armenia Guillermo Tolosa, who is completing his mission in our country, for his collaborative work and expressed the hope that Tolosa will maintain relations with Armenia in the future.

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