YEREVAN, April 1. /ARKA/. Armenian Finance Minister Vahe Hovhannisyan discussed today the 5th revision of the Stand-By Arrangement (SBA) at a meeting with IMF Armenian mission chief Iva Petrova.
Hovhannisyan spoke about the country’s economic development forecasts and measures implemented within the framework of fiscal policy. The sides discussed the progress in fulfilling the obligations assumed under the reserve program, as well as a number of other issues related to the reforms and risks of the financial sector, the press service of the Ministry of Finance reported.
The interlocutors stressed the importance of the reserve program in the implementation of monetary and structural reforms, praising the continuation of effective cooperation for the future of the program, as well as for strategic partnership.
In December 2024, the IMF opened access to $24.1 million for Armenia under the Stand-By Arrangement (SBA). This will bring the total access to about $120.59 million (92 million SDR). As the IMF noted, Armenian authorities continue to view the agreement as a precautionary measure.
With the SBA agreement
December 12, 2022, the IMF Executive Board approved a 36-month SBA precautionary program for Armenia, which supports the authorities’ efforts to preserve macroeconomic, financial, and fiscal stability and advance the domestic economic program.-0-
