IMF allocates $165M for Armenia

The Armenian authorities and International Monetary Fund (IMF) staff reached a staff-level agreement on a 3-year precautionary Stand-By Arrangement (SBA) for $165.6 million, Report informs, citing IMF.

The agreement is subject to approval by the IMF Executive Board and is expected to be considered in December 2022.

At the request of the Armenian authorities, a staff team from the International Monetary Fund, led by Ms. Iva Petrova, visited Yerevan from September 26 to October 6 to discuss a three-year economic program supported by an IMF precautionary Stand-By Arrangement.