IMF, World Bank Disapprove of Finance Ministry, State Revenue Committee Consolidation: Paper

The Armenian representations of the International Monetary Fund and the World Bank took the news of the uniting of the RA Ministry of Finance and the State Revenue Committee quite negatively, reports local opposition daily Haykakan Zhamanak, citing its own sources.

"Representatives of these agencies are preparing to express their disapproval in the near future, during a meeting for any occasion with [Prime Minister] Hovik Abrahamyan. Representatives of these agencies are concerned that as a result of this consolidation, the counterbalances in budget planning, collection, and expenditure functions are eliminated, which drastically reduces the effectiveness of state governance," reports the paper. 

Note, the Ministry of Finance is managed by former head of the State Revenue Committee Gagik Khachatryan.