News - Armenia to get additional $24.5M loan from IMF

Armenia will receive another tranche from the International Monetary Fund (IMF) in mid-December—and within the framework of the Stand-by Credit Facility (SCF). The IMF mission, which conducted another inspection in Armenia within the framework of the SCF, gave a positive conclusion on the provision of this money, the IMF press service informs Armenian News-NEWS.am. The mission will convey its conclusion to the IMF executive board, which will discuss it in mid-December. The amount of this tranche is $24.5 million. Thus, Armenia's payments within the framework of the loan will amount to $122.7 million. The total amount of the loan signed in December 2022 is about $170 million. The loan is intended to cover the state budget deficit. In the first half of the year, Armenia's GDP grew by 6.5%, mainly due to domestic—not export—demand for goods and services. After economic growth in 2022-2023, the IMF,  based on the results of 2024, expects a 6% growth, and in 2025—4.9%. Inflation is expected at a low level, but will gradually approach the Central Bank of Armenia's target indicators of 4+/- 1.5%. According to the draft budget, the debt of the Armenian government remains at a moderate level of 48.4% of the GDP as of 2023.