The Executive Board of the International Monetary Fund (IMF) has completed the second review of Armenia’s economic performance under a program supported by a Stand-By Arrangement (SBA) and approved a request for a waiver of nonobservance of end-September 2009 fiscal balance performance criterion, modification of the quantitative performance criteria for end-December 2009 to reflect the revised macroeconomic framework and rephasing of purchases to make the amounts scheduled to become available following the second and third review available upon completion of the second review.