IMF approves $73.6 million disbursement for Armenia
The Executive Board of the International Monetary Fund (IMF) yesterday completed the third review of Armenia’s economic performance under a program supported by a Stand-By Arrangement (SBA). The decision enables the immediate release of an amount equivalent to SDR 48.485 million (about US$73.6 million), bringing total disbursements so far an amount equivalent to SDR 350.425 million (about US$532.2 million), IMF reported.
Following the Executive Board's discussion on Armenia, Mr. Murilo Portugal, Deputy Managing Director and Acting Chair, stated:
“Armenia’s performance under its Stand-By Arrangement with the Fund has been strong, and the economic recession appears to have bottomed out, aided by supportive monetary and fiscal policies.”