Los Angeles
Submit an ad

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

Business Strategy

Armenia to get additional $24.5M loan from IMF

by Lilit Oct. 22, 2024

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.

About usyoo

Consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et magna aliqua. Ut enim ad minim veniam,

House on the beverly hills

$1245

House on the beverly hills

$1245

Categories

Tags

Sept. 13, 2023

Turkey to start ‘Zangezur corridor’ opening work in coming months, Turkish official says

In the coming months, the Turkish side will start the work of opening the "Zangezur Corridor". Abdulkadir Uraloglu, the…

Sept. 13, 2023

Karabakh resident Vagif Khachatryan, abducted by Azerbaijan, sends letter from Baku to family

Artsakh (Nagorno-Karabakh) resident Vagif Khachatryan, who was abducted by Azerbaijan on July 29, sent a letter to his …

Sept. 13, 2023

Fehlinger, who called for Armenia membership in NATO, has nothing to do with this organization, latter confirms

By Aram Danielyan Fehlinger has no official connection with NATO. Daniele Riggio, Press Officer in the Press and Media …

Sept. 13, 2023

Maria Zakharova: Content of humanitarian cargo delivered from Russia was agreed with Karabakh representatives

The content of the humanitarian cargo delivered from Russia to Artsakh (Nagorno-Karabakh) was agreed with the represent…

Sept. 13, 2023

Uruguay defense minister on Karabakh blockade by Azerbaijan: We cannot look the other way

The Minister of National Defense of Uruguay, Javier Garcia, reflected on the ongoing blockade of Artsakh (Nagorno-Karab…

Do you have something to sell?

Submit on ad