ArmInfo. RA Finance Minister Vahe Hovhannisyan met with the delegation led by the head of the International Monetary Fund (IMF) mission in Armenia Iva Petrova within the framework of the 5th review visit of the IMF credit program.
According to the information of the Ministry of Finance, during the meeting, Minister Hovhannisyan touched upon the forecasts of the country's economic development and the measures taken in the sphere of fiscal policy.
The progress in fulfilling the obligations assumed within the framework of the reserve program, as well as a number of other issues related to the reform and risks of the financial sector were discussed.
The parties emphasized the importance of the reserve program in the implementation of monetary and structural reforms, noting the importance of continuing effective cooperation for the further progress of the program, as well as strategic partnership.
In December 2024, it was reported that the Executive Board of the International Monetary Fund (IMF), following the 4th review of the Stand-By Arrangement (SBA), approved the provision of a stand-by facility to Armenia in the amount of SDR 18.4 million or $24.12 million. As noted in the IMF statement, this will increase the country's total access to IMF funds to SDR 92 million or $120.59 million.
