IMF resident representative: decision to double IMF borrowing limits to have no direct implications for Armenia

YEREVAN, April 27. /ARKA/. On Monday, Nienke Oomes, IMF Resident Representative in Armenia, commenting on the International Monetary Fund’s decision to double the borrowing limits of the poorest countries, said this does not have any direct implications for Armenia, “since Armenia currently has a Stand-By Arrangement with the IMF, and financing under Stand-by Arrangements has not been affected by the recent decision”.

According to the IMF’s press release received by ARKA News Agency on Monday, the Executive Board of the International Monetary Fund (IMF) agreed last week to double the borrowing limits of the poorest countries under the Poverty Reduction and Growth Facility (PRGF) and Exogenous Shocks Facility (ESF) arrangements to help low-income countries severely affected by the global economic downturn. M.V.-0---