YEREVAN, September 27 /ARКА/. Deputy Prime Minister of Armenia Mher Grigoryan received a delegation led by the head of the International Monetary Fund (IMF) mission in Armenia Iva Petrova. According to the government press service, the meeting was attended by the IMF Resident Representative in Armenia Umang Rawat.
The implementation of measures within the framework of the current IMF Stand-By Arrangement was on the discussion agenda.
Grigoryan presented the reforms carried out in the areas of tax, budget policy and public expenditure. The interlocutors touched upon the main directions of the state budget of Armenia for 2025.
Petrova highly appreciated the work to reduce cash circulation in the country.
About SBA agreement for Armenia
On December 12, 2022, the IMF Executive Board approved a 36-month precautionary Stand-by Arrangements (SBA) for Armenia, which supports the authorities’ efforts to maintain macroeconomic, financial, fiscal stability and advance the domestic economic program.
In June 2023, the IMF Executive Board completed the first review under the Arrangement, which opened up access for Armenia to SDR 18.4 million (about $24.5 million), in December of the same year – the second review for SDR 18.4 million (about $24.4 million) was completed, and in June of this year – the third review for SDR 18.4 million ($24.5 million). -0-
