A separate agreement could give Armenia access to up to $262 million over the next two years, subject to approval and reviews. The IMF Executive Board is expected to discuss both agreements in mid-December.
Sole source: Armenia and IMF staff have reached agreements that could expand the country’s access to financing, the Central Bank of Armenia said. The agreements cover a review of an existing Stand-By Arrangement and a proposed Resilience and Sustainability Facility. Both need approval from the IMF Executive Board.
According to the central bank, approval of the second review of the Stand-By Arrangement would give Armenia access to an additional SDR 18.4 million (approximately $25 million), bringing its total access under the arrangement to SDR 55.2 million (approximately $75 million). That is access to financing, not an announced payment.
Approval of the proposed facility would provide access to up to SDR 193.2 million (approximately $262 million) over the next two years, subject to the successful completion of four reviews.
The IMF Executive Board previously approved Armenia’s existing Stand-By Arrangement with total financing access of approximately $175 million, ArmBanks reports. Armenia’s authorities intend to treat the arrangement as precautionary.
The existing arrangement will continue to support economic stability and structural reforms, while the proposed facility would focus on resilience to climate-related shocks and natural disasters, the central bank said.
The IMF projects that Armenia’s economy will grow by 5.5% in 2026 and that inflation will reach 4.8% by year-end. It says geopolitical developments continue to pose significant risks.
The IMF Executive Board is expected to discuss both agreements in mid-December.
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