Republic of Armenia: Second Review Under the Extended Arrangement and Request for Waivers of Nonobservance and Rephasing; Press Release; Staff Report; Supplement; and Statement by the Executive Director for the Republic of Armenia

November 19, 2015

Preview Citation

Format: Chicago

Republic of Armenia: Second Review Under the Extended Arrangement and Request for Waivers of Nonobservance and Rephasing; Press Release; Staff Report; Supplement; and Statement by the Executive Director for the Republic of Armenia, (USA: International Monetary Fund, 2015) accessed November 21, 2024

Summary

This paper discusses Armenia’s Second Review Under the Extended Arrangement and Request for Waivers of Nonobservance and Rephasing. Since late 2014, Armenia’s economic performance has been affected by significantly weaker external conditions, as the slowdown of the Russian economy, the weakening of the ruble, lower metals prices, and the strengthening of the dollar have led to pressures on external receipts, particularly remittances. Performance under the program has come under strain. Three performance criteria (PCs) were missed both at end-December 2014 and end-June 2015. The authorities are requesting waivers of nonobservance for the missed June and continuous PCs. The IMF staff supports completion of the review.

Subject: Banking, Economic and financial statistics, External sector statistics, Foreign exchange, Imports, International trade, Public debt, Revenue administration

Keywords: Armenia, Armenian authorities, Armenia's performance, Authorities' priority, Authority, CR, Executive board's discussion, External sector statistics, Financing, Financing needs, GDP deflator, Global, Imports, ISCR, SDR

Publication Details

Pages:

102
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/320
Stock No:

1ARMEA2015003
ISBN:

9781513598062
ISSN:

1934-7685

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