Yerevan /Mediamax/. IMF Chief Executive Officer Age Bakker stated in Yerevan today that the Fund is considering the possibility to provide additional means for Armenia to overcome the consequences of the global crisis.

Mediamax reports that, speaking at the meeting with students of Yerevan State University (YSU), Age Bakker stated that at present an IMF program, approved in November, 2008, is in effect in Armenia, however, in connection with the crisis, the necessity appeared to reconsider the volumes of crediting.

IMF Chief Executive Officer noted that talks are in process with the World Bank and other organizations to attract additional means for Armenia. Age Bakker stated that IMF specialists are going to assess the balance of payments deficit of Armenia.

According to IMF Chief Executive Officer, against the background of the global financial-economic crisis, Armenia enjoys a more auspicious situation, as compared than countries, which are at a transition stage. Age Bakker noted that the Central Bank of Armenia quite quickly responded to the global crisis and took up the corresponding measures, which allowed preserving financial stability in the country. At the same time, he noted, “in the nearest future external risks will still be urgent’. 

Age Bakker stated that because of cessation of activity in a number of large enterprises, there is the threat of decrease in the level of tax proceeds, which, in its turn, may lead to budget deficit.