YEREVAN, August 24. /ARKA/. Armenia’s international reserves increased by approximately 40% year-on-year to a record $6.9 billion in June 2026, helping to strengthen the country’s external reserves despite heightened geopolitical risks, according to a report by international rating agency S&P Global Ratings.
“Armenia’s international reserves strengthened significantly in 2026, providing an important buffer amid heightened geopolitical tensions in the region,” the report states.
Analysts note that the growth is driven by the issuance of government Eurobonds, foreign currency purchases by the Central Bank, and significant financial and capital inflows from abroad.
“We expect the country’s international reserves to remain broadly stable,” the agency notes. Earlier, Central Bank of Armenia Governor Martin Galstyan stated that the regulator had reviewed its approach to managing international reserves and decided not to include gold in its updated reserve strategy.
On June 18, Central Bank of Armenia Deputy Chairman Armen Nurbekyan stated that the regulator had acquired approximately $1.1 billion in foreign exchange reserves since the beginning of the year alone.
The international rating agency Fitch Ratings previously predicted that by 2028, Armenia’s reserves would cover 3.6 months of current external payments, compared to a median of 4.5 months for countries with a “BB” rating.
