Armenia to Get $51.4 Million From IMF After Passing Loan Review

The International Monetary Fund approved a disbursement of $51.4 million for Armenia after completing a fifth review of the country’s economy.

The loan is part of a three-year, $403 million accord agreed with the Washington-based lender in June 2010, it said today in a report.

Armenia’s economic growth is forecast to slow to 4.3 percent this year compared to 6.2 percent last year, the fund said in the report. The country’s budget deficit is expected to widen to 2.6 percent this year from 2.1 percent in 2012 and inflation will remain about 4 percent this year, the IMF said.

To contact the reporter on this story: Aaron Eglitis in Riga at aeglitis@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net