Washington, DC, October 21, 2024 – The International Monetary Fund (IMF) and the Armenian authorities have reached a staff-level agreement on the fourth review under the 3-year Stand-By Arrangement (SBA). This agreement is subject to approval by the IMF's Executive Board, which is scheduled for mid-December.  

Key Points:

  • Strong Economic Growth: Armenia's economy continues to grow strongly, with GDP growth projected to reach 6 percent in 2024.

  • Policy Priorities: The government's policy agenda focuses on enhancing economic resilience, mobilizing tax revenues, strengthening institutional frameworks, and boosting labor productivity.

  • Positive Economic Outlook: The IMF expects Armenia's economic growth to remain robust in the coming years, with risks primarily stemming from geopolitical tensions and global economic developments.

  • Fiscal Sustainability: The government is committed to maintaining fiscal sustainability through careful expenditure prioritization and tax policy reforms.

  • Monetary Stability: The Central Bank of Armenia will continue to gradually reduce the policy rate to steer inflation towards its target.

  • Structural Reforms: The government's structural reform agenda aims to foster inclusive growth, diversify exports, and improve the business environment.


The IMF's approval of the staff-level agreement would enable Armenia to access about US$24.5 million (SDR 18.4 million), bringing total access to about US$122.7 million (SDR 92 million) since the SBA's inception.

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