President receives Director of IMF’s Middle East and Central Asia Department Masood Ahmed

President Serzh Sargsyan received today Masood Ahmed, Director of the Middle East and Central Asia Department of the International Monetary Fund (IMF).

The president welcomed the guest and spoke highly of the IMF’s activities in Armenia, stressing that as a result of many years of mutual cooperation, numerous projects have been implemented in our country, and that our economic achievements have been largely conditioned by that collaboration.

Serzh Sargsyan attached importance to the approval of the review of the Extended Fund Facility by the IMF Executive Board. According to the president, the unhindered continuation of that program not only addresses the issue of receiving new financial resources, but also signals the successful fulfillment of the obligations assumed by the RA under the program and, consequently, the continuity of the reform process.

Masood Ahmed also spoke highly of the IMF’s cooperation with Armenia and stressed that the fund will continue to use its experience and knowledge to help Armenia and will support our country in addressing present issues and responding to challenges, since the IMF has been partners with Armenia for many years. Noting that being affected by unfavorable developments in Europe and the region, Armenia’s economy faces multiple difficulties and new challenges, the IMF representative was especially interested in the RA president’s standpoints concerning the vision for the country’s medium-term economic growth, the RA economic policy priorities and the development programs.

At the meeting, the parties placed importance on the efforts aimed at the improvement of the business climate, attraction of investments and creation of new jobs. Masood Ahmed expressed the hope that following the tradition of prudent macroeconomic management and continuing the efforts to transform the Armenian people’s entrepreneurial and creative spirit into capital, Armenia will be able to overcome the current objective difficulties in this period of time.