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Armenia, IMF Discuss New Agreement

Armenia’s Minister of Economic Development and Investments Suren Karayan discussed the drafting of a new cooperation project with an IMF delegation led by Hossein Samiei.

A ministry press release says that the parties reviewed the government’s five-year development plan and economic priorities.

Samiei led a delegation to Armenia in the spring of 2017 to conduct discussions for the fifth and final review of the IMF’s Extended Fund Facility Arrangement.

After that visit, Samiei wrote:

Looking ahead, Armenia continues to face significant challenges: growth remains volatile and narrowly based; the export sector is relatively undiversified; unemployment and poverty remain high; and public and external debt are on the increase. This warrants decisive action to promote sustainable and inclusive growth, including reforms to attract foreign direct investment, improve infrastructure and education, tackle corruption, and enhance the business climate. 

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