IMF approves $175 million credit line for Armenia

The International Monetary Fund (IMF) has approved a new credit line for Armenia worth roughly $175 million, according to a statement released by the country’s Central Bank.

The Central Bank said the IMF’s Executive Board had authorised a 36-month Stand-By Arrangement (SBA) totaling SDR 128.8 million, equivalent to about $175 million. It explained that the program is intended to help maintain the momentum of economic reforms, preserve macroeconomic stability, and provide a safeguard against external risks, Caliber.Az reports via Armenian media. 

The arrangement, based on the IMF’s Special Drawing Rights basket of major global currencies, will support Armenia as it continues efforts to strengthen its economic resilience and policy framework, the Central Bank noted.

By Sabina Mammadli