Led by Minister Vahe Hovhannsiyan, a delegation from the Ministry of Finance of the Republic of Armenia is participating in the spring meetings of the boards of governors of the International Monetary Fund (IMF) and the World Bank (WB) in Washington, as reported by the Ministry of Finance of Armenia.
The first day of the visit began with a meeting with IMF Deputy Executive Director Bo Li, where the macroeconomic situation in Armenia and the results of the three-year IMF standby arrangement were discussed. The IMF Vice President expressed readiness to continue support in the future.
Meetings were also held with World Bank teams on education and transportation, discussing cooperation prospects in these areas as well as Armenia's potential involvement in regional transport projects.
Special attention was given to the meeting of the Global Concessional Financing Facility, where programs supporting the government of Armenia for displaced persons from Nagorno-Karabakh were discussed.
It is noted that Armenia became a beneficiary of the World Bank's Global Concessional Financing Facility on December 11, 2023, aimed at supporting countries hosting refugees. The Government of the Netherlands has already allocated 10 million euros to Armenia from the facility, and the United States has allocated 5 million euros.
On the second day, the Armenian delegation participated in discussions on peace initiatives within the "Middle Corridor" framework and met with the Executive Director of the group of countries, including Armenia, discussing current cooperation and future programs in various fields.
Meetings were also held with the IMF Executive Director representing Armenia and the IMF mission chief in Armenia, discussing ongoing reforms and the results of the three-year IMF standby arrangement.
Earlier, BMG reported that the IMF improved its economic growth forecast for Armenia for 2024 from the previous 5% to 6%. However, IMF economists warn of a slowdown in growth rates in 2025, expecting it to be at 5.2%.
