ArmInfo. Deputy Minister of Finance of Armenia Eduard Hakobyan presented the country's economic development strategies at the annual meetings of the Board of Governors of the International Monetary Fund (IMF) and the World Bank (WB).
As reported by the press service of the Ministry of Finance of Armenia, during the meeting the Deputy Minister spoke about the socio-economic situation in Armenia, the pace of economic growth and the process of implementing reforms. He emphasized the importance of stimulating investment, increasing competitiveness in global markets and strengthening social programs. Eduard Hakobyan also noted the important role of international financial organizations in promoting Armenia's development.
The parties also discussed global financial challenges, as well as means and opportunities for ensuring economic stability.
The Deputy Minister also held separate meetings with the World Bank Vice President for Europe and Central Asia Antonella Bassani, IMF Deputy Managing Director Bo Li, as well as with high-ranking representatives of the IMF and the World Bank, and other foreign partners. Recall that earlier the IMF press service reported that Armenia will receive a loan of $24.5 million to cover the budget deficit. The next tranche is expected to be provided in mid-December of this year under the Stand-By Agreement. The total amount of the loan, signed in December 2022, is about $170 million.
