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The Delegation of the RA Ministry of Finance Led by Minister Vardan Aramyan Had a Number of Meetings in Washington DC
14.10.2017
The Delegation of the RA Ministry of Finance Led by Minister Vardan Aramyan Had a Number of Meetings in Washington DC

On October 13, the RA Minister of Finance Vardan Aramyan took part in the plenary session of the Annual Meetings of the International Monetary Fund and the World Bank Group. At the course of the session, WBG President Jim Yong Kim and IMF Managing Director Christine Lagarde made a speech.

Jim Yong Kim touched upon global economic key issues that currently countries face, and attached importance to the necessity of the formation of a unified agenda towards human life improvement. He also mentioned the current priorities of the World Bank which are: inclusive and stable economic growth, more efficient investments in human capital.

In her speech, the Managing Director of the International Monetary Fund Christine Lagarde spoke about the issues on elimination of disparities between people, youth,  climate changes and corruption. She called upon all countries to unite efforts to address the issues raised.

Within the framework of the Annual Meetings, the RA Minister of Finance Vardan Aramyan had discussions with the representatives of “VTB”, “Bank of America Merrill Lynch”, “Citibank”, “Deutsche Bank”, “J.P. Morgan” organizations and “Moody's” rating organization.

Minister Aramyan presented the overall budgetary situation in Armenia, the mechanisms and main principles of budget planning, as well as the introduction of program budgeting. It was also touched upon the rates of economic growth, factors affecting them and future forecasts. During the meetings, the Minister also presented the tax sphere reforms and the procedure launched towards the amendments to fiscal rules, detailed the key philosophy of those changes and underlined that they are aimed at ensuring economic growth in a long-term perspective. At the course of the meeting with the representatives from the “Moody’s” rating organization, speaking on the reform framework initiated in Armenia recently, the Minister attached great importance to the role of rating organizations in attracting foreign investments.