IMF’s Armenian Mission Head Discusses Investment Climate, Economic Growth, and Risk Mitigation with PM Pashinyan

YEREVAN – Armenian Prime Minister Nikol Pashinyan met on Monday with Iva Petrova, outgoing head of the Armenian mission at the International Monetary Fund (IMF), as she concludes her tenure in the position.

The meeting was also attended by Alexander Timan, who will succeed Petrova as head of the IMF mission, according to the Armenian government’s press service.

Prime Minister Pashinyan emphasized the importance of continued cooperation with the IMF for Armenia’s economic development. He noted that positive trends in economic activity persisted in the first quarter of the year and that the government remains focused on ensuring sustainable economic growth.

The parties discussed the outcomes of the IMF’s fifth review under the Stand-By Arrangement (SBA). Both sides expressed satisfaction with the program’s results and explored future steps.

They also exchanged views on enhancing the financial sector, improving the investment climate, stimulating economic activity, mitigating existing risks, and addressing other key issues.

In December 2024, the IMF made $24.1 million available to Armenia under the SBA. This brought the country’s total access under the program to approximately $120.59 million (92 million Special Drawing Rights, SDR).

The IMF Executive Board had originally approved the 36-month precautionary SBA for Armenia on December 12, 2022. The program supports the government’s efforts to maintain macroeconomic, financial, and fiscal stability while advancing its domestic economic agenda.