The International Monetary Fund offered a cautiously positive economic outlook for Armenia as it announced the release of $50.7 million in fresh loan tranches to the authorities in Yerevan on Monday.
The two installments are part of a three-year lending program for the country worth $404 million that was launched by the IMF in June 2010. Their disbursement raised to almost $270 million the total amount of low-interest funds allocated to the Armenian government and Central Bank under that scheme.
In a written statement, the IMF praised the Armenian authorities for adhering to macroeconomic policies favored by the Washington-based fund. It said that they have translated into "solid growth" and falling inflation.
Armenian News
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