ArmInfo. Armenia's gross international reserves (GIR) increased by 54% year-on-year or $2.3 billion by September 2026, setting a new record at over $6.532 billion, while in the same period of 2025 the growth was more modest by 17.7% or $638.7 million - to $4.243 billion. In August alone, GIR grew moderately - by 6% (or $343.5 million), against a more moderate growth of 4.3% (or $173.6 million) a year earlier in the same month. Over the 8 months of this year, GIR increased by 28.4% (or $1.446 billion), while a year ago, for the same period, a relatively modest growth of 15.1% (or $558 million) was recorded. This is evidenced by data from the Central Bank of the Republic of Armenia.
In particular, the annual growth of GMR in August 2026 was driven by a similar increase in external assets in foreign currency by 54.3% to $6.521 billion, with a 35% decline in the share of SDRs in the IMF to $10.3 million. In the same period of 2025, both indicators demonstrated identical growth of 18%.
Over the first eight months of this year, the growth of GMR was driven by a similar 28.3% increase in external assets in foreign currency, with a 7.7-fold jump in the share of SDRs in the IMF. This was also observed a year earlier during the same period, when a 14.8% increase in the former was accompanied by an eight-fold jump in the latter. In August of this year alone, The growth of foreign assets in foreign currency accelerated from 5% to 6%, and the dynamics of the share of SDRs in the IMF reversed from an impressive 14-fold increase to a significant decline of 40%. While a year earlier in August, the former's exit from stagnation by 5% growth was accompanied by an acceleration of the decline of the latter from 1% to 33%.
It should be noted that Armenia's gross international reserves (GIR) for 2025 increased by 38% or $1.4 billion, amounting to $5.086 billion, while in 2024 there was a weak growth of 2.2% or $76.2 million - to $3.685 billion. In particular, foreign assets in foreign currency increased by 38.1% to $5.085 billion, with a decline in the share of SDRs in the IMF by 32.1% to $1.3 million, while in In 2024, there was a weak growth of 2.1% in the former and a 4-fold jump in the latter. It is worth mentioning that in August 2023, both the GIR and external assets in foreign currency reached a record high of $4.220 billion and $4.217 billion, respectively, which was exceeded two years later, with further monthly record-breaking and a continuation of this trend in 2026. The historical maximum of the SDR share in the IMF was recorded in August 2021 - $178.2 million. The share of bank gold in Armenia's GIR was reset to zero back in December 2003.
As a reminder, the International Monetary Fund (IMF), under the new SBA (Stand-By Arrangement), opened Armenia's access to a Stand-By Credit facility in the first ten days of June 2026 in the amount equivalent to SDR 18.4 million (approximately $25.1 million), bringing the total available funds since the program's launch in December 2025 to SDR 36.8 million. (approximately $50.2 million). The SBA aims to support government policies and the reform program to maintain macroeconomic stability, promote sustainable and inclusive growth, and provide protection against downside risks in uncertain environments.
Prior to this, in early December 2025, the IMF Executive Board approved a new three-year SBA (Stand-By Arrangement) with Armenia for a total of SDR 128.8 million, or approximately $175 million (100% of Armenia's IMF quota). Simultaneously, the IMF completed the previous sixth review under the SBA, which was set to expire on December 11, 2025.
