Improving investment climate, boosting economy and overcoming risks discussed by Armenian PM and IMF delegation

YEREVAN, April 7. /ARKA/. Armenian Prime Minister Nikol Pashinyan received on Monday the head of the Armenian mission at the International Monetary Fund (IMF), Iva Petrova, who is completing her activity in this post.

The meeting was also attended by Alexander Timan, who will replace Petrova as head of the mission, the press service of the Armenian government reported.

The Prime Minister emphasized the importance of cooperation with the IMF for the development of the country's economy. Pashinyan noted that in the first quarter of the current year the tendencies of economic activity were preserved, and the government's actions are aimed at ensuring sustainable economic growth.

The sides discussed the results of the 5th revision of the Stand-By Arrangement (SBA). In this context, the parties expressed satisfaction with the results of the program and discussed further steps.

Views were exchanged on the financial sector, improving the investment climate, stimulating economic activity, overcoming existing risks and other issues.

In December 2024, the IMF opened access to $24.1 million for Armenia under the SBA (Stand-By Arrangement). As a result, the total access amounted to about $120.59 million (92 million SDR).

On December 12, 2022, the IMF Executive Board approved a 36-month SBA precautionary program for Armenia that supports the authorities' efforts to preserve macroeconomic, financial, and fiscal stability and advance the domestic economic program.-0-

.