Open news feed Close news feed
A A

CASH-STARVING ARMENIAN GOVERNMENT ASKING FOR CREDIT FROM WB IN A BID TO TACKLE GROWING ECONOMIC CRIS

Economy

Armenian Minister of Economy and Finance is able to breathe easily again: the republic government has made all possible efforts to persuade World Bank to give the republic long-awaited credit of SAC-5.

As many as 50 decisions were made at government meeting held Thursday. 11 of them are the legal acts needed to be adopted by December 15 for obtaining the credit.

Thus, Armenian government fulfilled its commitment ahead of deadline set by WB. But it doesn’t means the country’s all financial problems to be solved at once, because only the first part of SAC-5 is to be allocated to the republic while the second part of credit is pending for other acts adoption scheduled for May 2003.

Many laws are in need to be improved and amended and new laws expected to be instituted.