YEREVAN, June 13. /ARKA/. The Executive Board of the International Monetary Fund (IMF) completed the first review under the Stand-By Arrangement (SBA) with Armenia, IMF said in a press release.
The completion of the review enables access of SDR 18.4 million (about US$24.5 million), bringing total access to SDR 36.8 million (about US$49 million).
The SBA was approved by the IMF’s Board on December 12, 2022. The Armenian authorities continue to treat the arrangement as precautionary. The Executive Board’s decision on the first review was taken without a meeting.
Last December 12, the Executive Board of the International Monetary Fund (IMF) approved a 36-month Stand-By Arrangement (SBA) for Armenia amounting to SDR 128.80 million (about US$171.1 million or about 100 percent of Armenia’s quota in the IMF).
Upon the Board’s approval, an amount equivalent to SDR 18.40 million (about US$24.4 million) became immediately available to Armenia, and the remaining amountwas to be made available, subject to six semi-annual reviews. -0-
