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VARDAN KHACHATRYAN UNHAPPY ABOUT COOPERATION WITH WORLD BANK

Economy

Armenian Economy and Finance Ministry delegation has been plunged in discussion and debates with its American colleagues for 2 day. The debates were broke out over the first part of U.S. credit SAC-5. Setting 2003 budget, Armenian Government pinned all its hope on this credit. The first expected payment of $20 million was already included in the budget. The thing is that the World Bank government was misled by its employees and wasn’t informed about the fact that a part of the credit is already included in the budget.

It has eventually been proved that Armenia is badly in need of SAC-5. However, the amount will be given with delay after all due procedures. The country is likely to suffer heavy consequences of the delay.

It isn’t ruled out that the World Bank delegation will arrive in Armenia in 10 days. The visit aim is to learn how Armenia is fulfilling its commitments. Economy and Finance Minister Vardan Khachatryan says the republic has fulfilled all its SAC-4 commitments. Despite this WB is unlikely to give positive answer on SAC-4.

Vardan Khachatryan is sure that the government won’t accumulate new debts. He said the only thing to be barely feasible is pay the pensions, salaries and benefits its already owe to the people.