ArmInfo. Last year, Armenia's gross international reserves (GIR) totaled $3.215bln - up by $599.4mln or 23% (against an 8.2% decline in 2020 and a 26.1% growth in 2019).
The share of external convertible currency assets in Armenia's GIR is $3.182, that of SDR at the IMF is $32.8mln. The Central Bank of Armenia (CBA) reports a 22.1% year-on-year growth in the external convertible currency assets against an 8.3% decline, with a 3.7% growth in the SDR at the IMF against a 45.5% growth last year (against the respective 26.2% and 3.3% in 2019).
In the fourth quarter of last year, Armenia's GIR slowed their growth down to 0.7%, with external convertible currency assets showing 1.7% growth and with the SDR at the IMF going down to 48.4%.
In the previous quarters of last year, the dynamics was as follows: in the third quarter, 2.5% growth in GIR, 0.9% growth in external convertible currency assets and 4.6-fold growth in the SDR at the IMF; in the second quarter, 3.5% growth in GIR, 3.1% growth in external convertible currency assets and a 4.7-fold growth in the SDR at the IMF; in the first quarter, 15% growth in GIR due to 15.3% growth in external convertible currency assets, with a 67.2% decline in the SDR at the IMF.
The fourth quarter of 2019 saw 18.4% growth in Armenia's GIR, 18.1% growth in external convertible currency assets and a 9-fold growth in the SDR at the IMF.
The fourth quarter of 2021 saw a 6.8% growth due to an 8.1% growth in the external convertible currency assets, with an accelerating decline in the SDR at the IMF down to 76.4%.
The fourth quarter of 2019 saw an accelerating growth up to 18.4% in the GIR, an 18.1% accelerating growth in external convertible currency assets, with a 9-fold growth in the SDR at the IMF. Last December alone saw a 6.2% growth in the GIR (by $188.7mln) after a 5.5% decline in November.
That was accompanied by a 7.3% growth in external convertible currency assets after a 5.4% decline and with a 45.52% accelerating decline SDR at the IMF against a 5.9% decline. A similar situation was observed in December 2020, with the highest rates, however: 14.8% growth in the GIR, dues to a 16.2% growth in external convertible currency assets, with a 74.6% decline in the SDR at the IMF. In December 2019, the 20% growth in the GIR was accompanied by 20.1% growth in external convertible currency assets, with a 12.7% decline in the SDR at the IMF.
Last March, April, July, September and November saw a decline in the GIR. Last March, April, July and August saw a decline in external convertible currency assets as well. Last April and August saw a considerable growth in the SDR at the IMF.
On December 17, 2021, the Executive Board of the International Monetary Fund (IMF) concluded the 2021 Article IV consultation as well as completed the fourth and fifth reviews of the Republic of Armenia's economic program supported by a three-year IMF Stand-By Arrangement (SBA). The completion of these reviews allows the authorities to draw SDR 51.43 million (about US$ 72 million), according to an IMF report of December 17.
Armenia's three-year SBA of SDR 308.8 million (about US$ 432 million), equivalent to 239.75 percent of Armenia's quota in the IMF, was approved by the IMF's Board on May 17, 2019 and augmented on May 18, 2020.
On August 23, 2021, the largest allocation by International Monetary Fund of Special Drawing Rights (SDRs) in history-about - US $650 billion - came into effect according to the allocation of SDRs to the proportionally paid quotas of IMF members, in the case of Armenia, the allocated amount was SDR 123.4 million (about USD 175.2 million, using the SDR value as of August 24).
The Executive Board of the International Monetary Fund (IMF) completed the second review of the Republic of Armenia's performance under the program supported by the Stand-By Arrangement (SBA). Armenia's three-year SBA of SDR 180 million (about US$248 million), equivalent to 139.75 percent of Armenia's quota in the IMF, was approved by the IMF's Board on May 17, 2019.
By the end of 2020, Armenia's GIR had totaled $2.616bln, external convertible currency assets, $2.607bln, and SDR at the IMF, $9mln. The year 2020 saw an 8.2% decline in the GIR (against a 26.1% growth in 2019), an 8.3% decline in external convertible currency assets and a 46% decline in SDR against the respective growth of 26.1% and 3.2%.