News Briefs

Republic of Armenia and the IMF

The IMF's Poverty Reduction and Growth Facility (PRGF) -- A Factsheet





News Brief No. 01/45
May 24, 2001
International Monetary Fund
700 19th Street, NW
Washington, D.C. 20431 USA

IMF Approves US$87 Million PRGF Credit to Armenia

The Executive Board of the International Monetary Fund (IMF) has given its final approval of the three-year loan of SDR 69 million (about US$87 million) under the Poverty Reduction and Growth Facility (PRGF) for Armenia to support the government's economic program. This final approval will make the first disbursement of SDR 10 million (about US$13 million) available immediately.

The approval by the IMF Executive Board was contingent on a decision by the World Bank Executive Board on May 22 (see Press Release No. 01/25), which concluded that the Interim Poverty Reduction Strategy Paper (I-PRSP) submitted by the Republic of Armenia provides a sound basis for the development of a fully participatory PRSP and for World Bank concessional financial assistance.


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