INTERNATIONAL MONETARY FUND PROMULGATED A NUMBER OF CONDITIO

INTERNATIONAL MONETARY FUND PROMULGATED A NUMBER OF CONDITIONS WHICH THE GOVERNMENT OF ARMENIA HAS TO FULFIL TO GET CREDITS
15.06.2000 17.20
15.06.2000, MEDIAMAX, YEREVAN. "Credits given to Armenia by IMF were exhausted in 1999", reported the head of IMF for internal relations Cateline White in the course of the meeting with a group of Armenian journalists which took place in the Washington office of the IMF.
Armenia must submit a new program to the council of directors of the IMF to get new credits. Mrs. White reported to the journalists that negotiations are held at present on working out new programs.
"But unless there is political stability in the country , it can't get credit as it won't have the possibility to give it back. Armenia spends more than it earns, while IMF gives credits so that the economic reforms should pass smoothly", declared Mrs. White.
In the opinion of the representative of IMF, Armenia's entry into this organization in 1992 was hasty, and now IMF doesn't rush to pass the credit program directed to the liquidation of poverty in Armenia.
Cateline White enumerated all the conditions by fulfilling which the Armenian government can expect credits from IMF - stabilization of dram, adoption of tax laws, resumption of privatization process, in particular, the privatization of the four distributive power networks, stabilization of legal system, encouragement of export.
"The program for Armenia has been worked out and submitted according to its own wish. If the government displays no interest, there will be no results. This program requires joint work of the government and the political structures of the country", declared Mrs. White.
It should be noted that during the business visit to Washington fixed on end-June, the president of Armenia Robert Kocharian will have meetings with the officials of IMF and World Bank -0-