ArmInfo. On September 25, RA Deputy Prime Minister Mher Grigoryan received a delegation led by Alexander Timan, head of the International Monetary Fund (IMF) mission to Armenia.
According to the government press service, issues raised during the second review of the IMF-supported Stand-By Arrangement (SBA) were discussed during the meeting.
Macroeconomic developments and fiscal policy were reviewed. In this context, the Deputy Prime Minister emphasized the importance of the reforms being implemented in the country with IMF support and expressed gratitude for the technical assistance provided.
It is worth noting that the second review of the IMF-supported Stand-By Arrangement (SBA) is currently under active discussion and implementation. Specifically, official meetings between the government and the IMF mission, led by Alexander Timan, will be held in Armenia in September 2026 to summarize the results of this phase of the program. Topics for discussion: current macroeconomic developments, fiscal policy indicators, and the progress of structural reforms aimed at maintaining economic stability.
The current 36-month Stand-By Arrangement (SBA) totaling approximately US$175 million (SDR 128.8 million) was approved by the IMF Executive Board in December 2025. The authorities traditionally view these funds as precautionary, designed to hedge against external risks and maintain financial stability. The first review of the program was successfully completed in June 2026. In parallel, in September 2026, the IMF Executive Board completed the 2026 Review of Program Design and Conditionality, which addressed the general principles for lending, including the SBA. The fund's new guidelines are intended to make future lending programs more flexible, realistic, and adapted to external economic shocks.
