Armenian finance ministry: CIS countries see it necessary to enlarge IMF potential

Armenian finance ministry: CIS countries see it necessary to enlarge IMF potential
ARKA, 03.04.2009

The countries of the Commonwealth of Independent States (CIS) consider it necessary to strengthen the mandate and expand the scope of the International Monetary Fund (IMF), Armenian Minister of Finance Tigran Davtyan said.

This implies also greater resources and serious steps are taken in this direction, the Minister said in summarizing the outcome of his visit to Moscow on March 31.

Davtyan said that the donor countries have already made statements about increasing of IMF resources, and the process is under way.

It is these resources that help the countries ensure desirable macroeconomic indicators both in global economic and in separate countries, he said adding that the IMF has already liberalized the lending terms to an extent.

Davtyan reported that suggestions were made to expand also the format of participation of the developing countries and transit economies, CIS countries in particular, in decision-making process within the IMF. N.V. –0--