Republic of Armenia: 2014 Article IV Consultation-First Review Under the Extended Arrangement-Staff Report; Staff Supplement; and Press Release

March 11, 2015

Preview Citation

Format: Chicago

Republic of Armenia: 2014 Article IV Consultation-First Review Under the Extended Arrangement-Staff Report; Staff Supplement; and Press Release, (USA: International Monetary Fund, 2015) accessed November 24, 2024

Summary

This 2014 Article IV Consultation highlights that after a steady recovery during 2010–12 from the deep 2009 recession, Armenia’s growth softened in 2013 and has remained subdued in 2014. The softening of economic activity has been broad based, as growth of exports and remittances slowed, and government spending was lower than budgeted. Construction, which had declined since the 2009 crisis, was relatively flat. Growth is projected at 2.6 percent in 2014 and is expected to increase only gradually in 2015 and over the medium term in light of expectations of slow growth in key trading partners. The authorities’ policies remain geared toward maintaining macroeconomic stability and fostering sustainable and inclusive growth.

Subject: Banking, Exchange rate flexibility, Financial institutions, Foreign exchange, Loans, Public debt, Revenue administration

Keywords: Auction, CBA purchase, CR, Dollar, ER flexibility, Exchange rate flexibility, FX, FX auction, FX sale, Global, ISCR, Loans, Monetary policy, Sale, US$-dram exchange rate, Weighted average auction ER

Publication Details

Pages:

110
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/065
Stock No:

1ARMEA2015001
ISBN:

9781498399814
ISSN:

1934-7685

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