Wednesday, 26 July 2006
Today Republic of Armenia Prime Minister Andranik Margaryan has received outgoing IMF Resident Representative in Armenia James McHugh.
The Prime Minister expressed his appreciation of the IMF-GoA cooperation over Mr. McHugh's tenure of office and mentioned that the positive results of this cooperation were apparent for Armenia. The Prime Minister further said that his government and the IMF had succeeded in solving many questions through joint efforts.
Mr. McHugh who entered upon office in 2002 emphasized that the Armenian government was able to address several issues over the past few years and was pushing ahead successfully. He evoked the financial pressures faced by the government at the outset of its activity, the heavy burden of indebtedness, pension and wage arrears, high level of unemployment and a number of other problems, most of which are overcome at present. "Far beyond accumulating further debts, the Government of Armenia now manages to save additional funds at the end of year: certain progress is noticed towards the fulfillment of the goals of the Poverty Reduction Strategic Program (PRSP), there is a clear reduction of the level of extreme poverty, as well as sustainable economic growth supported by improved employment indicators on the labor market,"
