DISCUSSION OF IMF RECURRENT TRANCHE TO ARMENIA POSTPONED

The March 28 sitting of the International Monetary Fund to discuss the allocation of the recurrent tranche of $30 million to Armenia in 2003 was postponed for uncertain period of time, the IMF Yerevan representation told “Arminfo” agency. The funds should be assigned for replenishment of the external reserves of Armenia. The tranche is being given within the poverty reduction and development program in Armenia providing for an overall credit of $91 million, $40 million out of which are already received.