NEXT INTERNATIONAL MONETARY FUND CREDIT TRANCH FOR POVERTY REDUCTION TO BE TRANSFERRED TO ARMENIA OCTOBER 2002

The next tranch of the International Monetary Fund credit for “Poverty Reduction and Growth Facility ” program will be transferred to Armenia in October 2002. RA minister of finances and economy Vardan Khachatrian has stated that in his interview with “Arka” agency. According to him, the meeting of the Council of Directors of the International Monetary Fund for consideration of the issue will take place in early October. At that, the minister did not mention the exact sum of the tranch. It should be noted, earlier Khachatrian had stated the IMF would render Armenia $ 45 million within the frameworks of that program. The $87-million “Poverty Reduction and Growth Facilities” program will be completed in 2004.