Can Loans Be Denied from Abroad? - Hraparak

According to our information, the World Bank and the International Monetary Fund (IMF) have received very poorly the speech of Prime Minister Nikol Pashinyan regarding the Implementation Office (IO) and funds, where he referred to these institutions as "hotbeds fostering corruption and graft," which are the biggest centers of corruption in our country.

While these organizations not only implement large projects with the IOs but also monitor the spending of the financial resources they provide. If Pashinyan keeps his promise and shuts down all IOs, state agencies, and foundations, not only will a large number of people, including foreigners, lose their jobs, but also after the negative assessment from these international financial organizations, we may find ourselves unable to receive loans from abroad, be subject to stricter demands for repayment of the funds already provided, and generally, our cooperation with foreign entities may cease, as the opinions of the World Bank and IMF are often decisive in these matters.

According to our information, representatives of these institutions, particularly from the World Bank, tried to approach the Prime Minister of Armenia some time ago to explain and present their work but were surprisingly rejected.