Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

IMF Chief Visits Armenia, Kazakh Loan Expected


YEREVAN, Armenia -- IMF's managing director, Michel Camdessus, said his first visit to Armenia was a sign of support for the former Soviet republic's economic reforms.

"I hope that the three-year program currently under way in Armenia will so improve the country's standing that by the end of 1998, Armenia may not need IMF assistance," Interfax quoted him as saying Thursday.

The International Monetary Fund provided a $148 million, three-year loan to Armenia in February, the report said.

A delegation headed by Camdessus arrived Wednesday for discussions connected with the loan.

In a separate report, Kazakhstan said it expected to receive a medium-term IMF loan of $500 million to $600 million.

The country's Central Bank governor, Uraz Dzhandosov, said an IMF mission that visited earlier this week would return April 20 for further talks on several outstanding economic, social issues.


Dzhandosov said several issues remained outstanding, including the sources of government revenues, the government's ability to collect taxes, social reforms, and economic policy concerning communal services, energy and transport.