Monday, July 12 2021 17:33

ArmInfo. In H1 2021, Armenia's gross international reserves increased by 18.7% or by $ 488.6 million, amounting to $ 3.104 billion, as evidenced by the data of  the Central Bank of Armenia. Of these, the lion's share - $ 3.091  billion - falls on foreign assets in hard currency, and the share of  SDR in the IMF amounted to $ 13.3 million. According to the  regulator's report, for H1 this year, foreign assets in hard currency  increased by 18.6%, while the share of SDR in the IMF increased by  48%.

The y-o-y dynamics (June 2021 to June 2020) also showed growth: SMR  increased by 17.2% or by $ 455.9 million, due to the growth of  foreign assets in hard currency by 19%, while the share of SDR in the  IMF fell by 74%.

Quarterly, there is a slowdown in growth: GDP - to 3.2% (from 15% in  Q1), foreign assets in hard currency - to 2.8% (from 15.3% in Q1),  while the share of SDR in the IMF turned the dynamics from a 67.2%  decline to an 4.5-fold increase. In June alone, BMP accelerated  growth from 0.6% to 3.2%. A similar dynamics was observed in foreign  assets in hard currency - growth accelerated from 0.7% in May to 4%  in June. At the same time, the share of SDR in the IMF for the  reporting month sharply accelerated the decline from 8.3% in May to  62.8% in June.

As a comparison, let us note that in  H1 2020, the dynamics of GEM  was downward: foreign assets in hard currency decreased by 8.7%, the  share of SDR in the IMF increased 8.3-fold, which ultimately reduced  GIR by 7.1%. But on a y-o-y terms, (June 2020 to June 2019), there  was an upward trend: GEM increased by 19.3% due to the growth of  foreign assets in hard currency by 17.6%, with an increase in the  share of SDR in the IMF 4.4-fold. For Q2 2020, these indicators  reversed the trend from downtrend to upward:  BMR - up to 2.6% growth  (from 9.4% decline in the Q1), foreign assets in hard currency - up  to 0.7% growth (from a 9.3% decline in Q1), and the share of SDR in  the IMF increased 18.6-fold (from a 55.7% decline in Q1). And in June  2020 alone, BMR from 8.5% growth declined 2.1%, with a similar change  of the trend of foreign assets in hard currency from 5.1% growth to  1.2% decline, and a decrease in the share of SDR in the IMF by 31.5%  (after a 27-fold increase in May).

To recall, at the end of 2020, Armenia's gross international reserves  amounted to $ 2.616 billion, foreign assets in hard currency - $  2.607 billion, and the share of SDR in the IMF - $ 9 million. In  2020, the BMR decreased by 8.2% (against an increase of 26.1% in  2019), foreign assets in hard currency - by 8.3%, and the share of  SDR - by 46%, against an increase of 26.2% and 3.2% in 2019,  respectively.  During 2020, the downward trend in the BMR was  observed in January-April, then in May an upward trend emerged, after  which the decline resumed, persisting until December. The share of  SDR in the IMF also declined in the first four months,  havingincreased sharply in May, after which the decline resumed, with  a monthly moderate drawdown observed in June-November, and a sharp  one in December. Foreign assets in hard currency showed an upward  trend in May, August and December. The share of bank gold in the  gross international reserves of Armenia was zeroed back in December  2003.