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IMF Allocates $25 Million to Armenia

IMF approves $25.1 million allocation to Armenia after Pashinyan's election victory.

Michael Brown
ByMichael Brown- Senior Editor
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The International Monetary Fund (IMF) has approved the allocation of approximately $25.1 million to Armenia.

The decision comes after the victory of Nikol Pashinyan's party in the parliamentary elections.

According to the IMF, this amount is equivalent to 18.4 million Special Drawing Rights (SDR).

Together with the previous tranche, total funding under the program will reach about $50.2 million.

The Armenian government considers this as a precautionary support mechanism and plans to use the funds only in case of urgent need.

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IMF Allocates $25 Million to Armenia | Bond.az