IMF Staff Country Reports

Republic of Armenia: Third Reviews Under the Extended Fund Facility and Extended Credit Facility, and Request for Modification of Performance Criteria: Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Armenia.

December 22, 2011

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Republic of Armenia: Third Reviews Under the Extended Fund Facility and Extended Credit Facility, and Request for Modification of Performance Criteria: Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Armenia., (USA: International Monetary Fund, 2011) accessed December 27, 2024

Summary

Armenia’s growth has picked up in 2011, led by manufacturing, mining, and services, while agriculture has rebounded from the collapse. Credit continues to grow rapidly, particularly in foreign currency and based on strong inflows to banks. Inflation has come down sharply, reflecting policy rate hikes, spending restraint, the agriculture recovery, and favorable global price developments. Challenges include safeguarding financial system stability, strengthening tax revenues to ensure sustainability and support pro-growth and pro-poor spending, improving the business environment to enhance growth and reduce poverty and unemployment, and reducing external imbalances.

Subject: Credit, External debt, Financial institutions, Loans, Money, Public debt, Revenue administration

Keywords: Business registration process, CR, Credit, Deficit, EFF arrangement, Global, Government import, Growth outturn, Growth projection, ISCR, Loans

Publication Details

  • Pages:

    86

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2011/366

  • Stock No:

    1ARMEA2011003

  • ISBN:

    9781463929879

  • ISSN:

    1934-7685

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