Time in Yerevan: 11:07,   20 April 2024

IMF reviewed quota of Armenia

IMF reviewed quota of Armenia

YEREVAN, APRIL 17, ARMENPRESS. The International Monetary Fund has performed a review of quotas, according to which the quota for the Republic of Armenia from 92 million SDR (Special Drawing Right) will become 128 million. The Acting Minister of Finance of the Republic of Armenia David Sargsyan stated, that the adopted decision had finalized the 14th overall review of the quotas. “An unprecedented 100 percent increase in the total volume of quotas has been offered, as well as quota re-allocation in the global economy to express more accurately the weights of the IMF member states. The change in quotas primarily affects the state obligations, the right to vote and the volume of loans" – as reports "Armenpress", citing the proposition of the project.

Before the proposed review by the IMF Executive Board on December 15, 2010, the quota of the Republic of Armenia was 92.0 million SDR. In the result of the 14th revision, the quota of the Republic of Armenia was proposed to be increased to 128.8 million SDR. According to the established procedure, the 25 percent of quota should be transferred in SDR or any currency of SDR basket (U.S. dollar, euro, etc.) from the resources of the Central Bank of Armenia, and the rest - in the national currency of the member state - as promissory note.








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