Fri, 24 October
21.1 C
Yerevan
USD: 383.05 RUB: 4.73 EUR: 444.80 GEL: 141.19 GBP: 510.03

IMF approves last $84-mln tranche under EFF/ECF

YEREVAN, July 2./ARKA/. The Executive Board of the International Monetary Fund (IMF) today completed the sixth and final review of Armenia’s economic performance under a program supported by Extended Fund Facility (EFF) and Extended Credit Facility (ECF) arrangements, the organization reported on its website.

The completion of the review allows the authorities to draw an additional SDR 55 million (about US$84 million), bringing total disbursements under the arrangements to the full SDR 266.8 million (US$407.2 million) available.

EFF and ECF arrangements with Armenia were approved by the IMF’s Executive Board on June 28, 2010.

The program objectives are to restore fiscal and external sustainability, preserve financial stability, and support growth and poverty reduction.

Early last month, the IMF’s resident representative in Armenia Guillermo Tolosa said the International Monetary Fund may start considering allocation of new funds to Armenia after the IMF Board of Directors gathers to finalize the current program.

Tolosa refrained from mentioning the exact amount of the new program saying that the current one has not been completed yet.

The resident representative said the IMF wanted the new program to be the last one as after it Armenia would be able to create favourable conditions for foreign investors on its own.

The current IMF resident representative in Armenia is Teresa Daban Sanchez. —0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Investor of the new era: how the capital management culture is changing in Armenia

Interest in investments in Armenia is growing, but it is too early to talk about an established capital management culture.

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

The UAE instead of Europe : why Armenia needs to change its approach to crypto regulation – EXCLUSIVE

The Armenian Forum on Cryptocurrency Assets, organized by the Cilicia Business Club, was recently conducted in Yerevan.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

LATEST NEWS

spot_imgspot_imgspot_img