International Monetary Fund

International Monetary Fund

EFSDcoordinates its activities both with the International Monetary Fund (IMF) program missions and with the IMF representative offices in Armenia, Belarus, Kyrgyz Republic, and Tajikistan. Cooperation is conducted in the framework of the general economic situation monitoring, and in the course of preparation and implementation of EFSD’s credits. Regular consultations allow the EFSD and the IMF to compare their vision of macroeconomic trends and economic development forecasts, improve estimates of the economic policy impact pursued by debtor nations and technical definitions of different indicators of macroeconomic situation. If necessary, joint support measures for financial stabilization programs implemented by the governments of member countries are defined.

The parties  cooperate in the following range of issues:

• annual consultation on future financing of budget gaps or public investment programs of borrowing countries;
• Joint technical visits for working on specific issues of anti-crisis programs supported by loans of the two institutions;
• preparation of joint research;
• consultations on the forecasting of the global economy and its impact on the economic situation in the EDB and ACF member countries;
• standardization of technical definition for quantitative indicators of anti-crisis programs supported by the IMF and the ACF.

EDB in its capacity of EFSD Resources Manager also cooperates with the IMF in the framework of donor clubs for Armenia, Kyrgyz Republic and Tajikistan.

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