IMF to Provide Armenia with $248.2 Million

The International Monetary Fund (IMF) has approved the allocation of Stand-By Arrangement (SBA) financing to Armenia for a duration of 36 months, amounting to approximately $248.2 million. Armenian authorities have indicated that the funds will be regarded as a precautionary measure and that they do not intend to utilize the new resources unless shocks lead to issues related to the balance of payments.

The funding is aimed at strengthening Armenia's economic fundamentals and policies, as well as implementing structural reforms, particularly in improving governance and the business environment.

Authorities continue to pursue a path of stable fiscal and budgetary policy guided by fiscal rules, while also creating conditions to promote infrastructure and social spending.

The Executive Board of the IMF has approved a loan of 180 million Special Drawing Rights (SDR) for Armenia for a period of 36 months (approximately $248.2 million or about 139.75 percent of Armenia's quota in the IMF).

The Board states that 25.714 million SDR (equivalent to about $35.5 million) is being disbursed to Armenia immediately, while the remaining funds will be allocated based on six semi-annual reviews.