The Executive Board of the International Monetary Fund (IMF) has completed its first review of Armenia’s economic performance under a program supported by the Extended Fund Facility (EFF) and the Extended Credit Facility arrangement (ECF).

The decision enables the authorities to draw an additional SDR 39.0 million (US$57.6 million), bringing total disbursements under the arrangement to an amount equivalent to SDR 78.1 million (US$115.2 million), the press service of IMF Resident Representative Office in Armenia reported.

The three-year SDR 266.8 million (about US$393.9 million) EFF and ECF arrangement with Armenia was approved by the IMF’s Executive Board on June 28, 2010.