The International Monetary Fund (IMF) has approved a new 36-month Stand-By Arrangement (SBA) loan agreement with Armenia amounting to special drawing rights (SDR) 128.8 million—100 percent of the country’s quota in the IMF, or about US$ 175 million.

The IMF statement on the approval of this agreement is accessible here.

As per the statement, this agreement aims to support continuity in the Armenian government’s policy and reform agenda to maintain macroeconomic stability, foster sustainable and inclusive growth, and provide insurance against downside risks.