Tuesday, 7 April 2009
RA Prime Minister Tigran Sargsyan received a mission from the World Bank’s Development Policy Lending Program Design division, headed by Senior Economist for Armenia Robert Talierzo.
Robert Talierzo thanked the Armenian Prime Minister and the Government for cooperation by noting that the mission has conducted fruitful discussions with the local ministries and agencies concerned.
Mr. Talierzo informed Tigran Sargsyan on the status of the 3-year country support lending program development activities currently underway at the World Bank. He noted that the mission has already discussed this year’s lending program with corresponding Armenian agencies. The 2010-2011 programs were said to have been left for discussion during a next mission scheduled for the last decade of this month.
The Prime Minister was further briefed on the mission’s recommendations regarding such action as may need taking in anticipation of the first lending program which was said to have an anti-crisis bias. Mr. Talierzo stressed the need for earmarking additional funds to the social sector first of all. The mission head appreciated the steps so far taken by the Government, including the set of legislative initiatives providing for increased small and medium-size enterprise support, improved business environment etc. Prime Minister Tigran Sargsyan concurred with Mr. Talierzo.
The parties have agreed in that the package of proposed action will be finalized once the Government of Armenia, the World Bank and the IMF come to an agreement on Armenia’s macroeconomic forecasts. Prime Minister Tigran Sargsyan accepted the proposal on establishing a task force to formulate more accurate macroeconomic forecasts and develop a number of scenarios.
Robert Talierzo said the Bank is prepared to support Armenia and as soon as the preliminaries for this year’s program are finalized, the mutually agreed document will be submitted to the World Bank’s Board of Directors for consideration.
