ArmInfo. Deputy Prime Minister of Armenia Tigran Khachatryan had a working meeting on March 17 with Iva Petrova, head of the International Monetary Fund (IMF) mission in Armenia, and IMF Resident Representative for Armenia Mehdi Raissii.
At the beginning of the meeting, Deputy PM Khachatryan, welcoming the guests, highly appreciated the willingness of the IMF to constantly support the reform programs of the Armenian government.
Iva Petrova thanked for the reception and emphasized the high-level partnership relations with the Armenian government, expressing confidence that the effective cooperation will continue in the future.
The parties discussed a wide range of issues of mutual interest, in particular, referred to topics related to the latest macroeconomic developments, capital expenditures and tax policy.
At the end of the meeting, a number of agreements were reached to continue discussions of current programs in a working format in the near future.
The IMF forecasts 4.5% economic growth in Armenia in 2023.
On December 12, 2020, The Executive Board of the International Monetary Fund (IMF) approved SDR 128.8 million (about US$171.1 million) 36-Month Stand-By Arrangement (SBA) for Armenia to help maintain macroeconomic stability, provide insurance against downside risks, and support structural reform agenda.
The Armenian authorities have indicated that they will treat the arrangement as precautionary. The new SBA will serve as insurance in case shocks generate balance of payments needs. The arrangement is based on the authorities' homegrown economic program that aims to achieve investment-driven, knowledge-based, and export-led growth, while preserving macroeconomic, fiscal, and financial stability and reducing poverty.
