New head of IMF mission to Armenia and Deputy Prime Minister discussed Armenia's macroeconomic policy

YEREVAN, June 17. /ARKA/. On Tuesday, Armenian Deputy Prime Minister Tigran Khachatryan received a delegation headed by the newly appointed head of the International Monetary Fund (IMF) mission to Armenia, Alexander Timan.

The government press service reports that, upon congratulating Timan on his appointment, Khachatryan expressed confidence in the continuity of Armenia's long-standing effective cooperation with the IMF.

The interlocutors discussed in detail a wide range of issues related to Armenia's economic policy and recent economic developments.

The government has identified key spending priorities for the coming years, including education, housing for displaced persons from Nagorno-Karabakh, socio-economic inclusion, and other areas. The parties also discussed potential areas for technical cooperation.

In December 2024, the IMF allocated $24.1 million to Armenia under the Stand-By Arrangement. Consequently, total access amounts to approximately $120.59 million (92 million SDR). The Armenian authorities have characterized the arrangement as a precautionary measure.

Earlier, on December 12, 2022, the IMF Executive Board approved a 36-month preventive SBA program for Armenia. This program supports the authorities' efforts to maintain macroeconomic, financial, and fiscal stability and promote the domestic economic program.-0-