IMF approves allocation of up to $25 million to Armenia after Pashinyan's victory

The International Monetary Fund has approved the allocation of about 25 million dollars to Armenia after the victory of Nikol Pashinyan's party in the parliamentary elections.

"The IMF Executive Board has completed the first review under the Stand-By Arrangement for Armenia. The completion of the review allows for the disbursement of an amount equivalent to 18.4 million SDR, which is about 25.1 million U.S. dollars," the fund said in a statement.

As reported, Yerevan still considers this agreement as precautionary and does not plan to spend the money unless absolutely necessary.

Source: RIA Novosti