Recent IMF EFF project may be the last with Armenia - Horton
YEREVAN, March 25. /ARKA/. The recent Extended Fund Facility project may be the last one with Armenia, head of IMF Staff Mission to Armenia Mark Horton said.
The IMF executive board approved the agreement with Armenia for 82.21 million SDR ($127.6mln or 89.4% of Armenia’s quota) under the 38-month EFF program on March 7.
If there are no major shocks, this will be the last program of the IMF with Armenia, Horton told a press conference Monday.
The country’s external imbalance continues reducing. Apart from this, Armenia’s euro bond issue of September 2013 provided access to other financing sources, Horton said.
The head of the mission urged to differentiate between the need for reforms and the need for funding. In case of Armenia, it is quite possible the country will need complicated reforms where the IMF can provide technical assistance, but will not need loans from the IMF, Horton said. –0--