A senior International Monetary Fund (IMF) official has described the current level of Armenia's foreign debt as "stable" after the announcement of the release of fresh loans to authorities in Yerevan earlier this week.
In an interview with Lragir.am, Guillermo Tolosa, the IMF's resident representative in Armenia, praised Armenia's adherence to macroeconomic policy benchmarks that he said had qualified it for the Washington-based institution's two installments of a total of $50.7 million as part of a three-year lending program worth $404 million that was launched in June 2010.
The IMF official said he believed Armenia will have no problem repaying its debts, voicing a hope that "the new generation will have enough resources" due to the revenues from investments made available through the loans.
Armenian News
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