Home > Latest News > Battle of loans: Russia-West fight for Armenia enters economic sphere

Battle of loans: Russia-West fight for Armenia enters economic sphere

December 12, 2012 Leave a comment Go to comments

The Executive Board of the International Monetary Fund (IMF) on Tuesday approved the next tranche of the loan for Armenia amounting to $51.4 million, thus bringing the total amount of credit released to Armenia to $324.4 million. The three-year $408.7 million project for Armenia was approved in 2010.

Through its representative in Yerevan the IMF, in fact, endorsed the policy of the Government of Armenia, noting only that there are still problems, especially related to venture business and attraction of investments in the country. He also hinted at the fact that officials in Armenia still take bribes from businessmen.

Armenian News

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