Republic of Armenia: 2023 Article IV Consultation and Second Review Under the Stand-By Arrangement and Request for Modifications of Performance Criteria and Monetary Policy Consultation Clause-Press Release; Staff Report; and Statement by the Executive Director

December 14, 2023

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Republic of Armenia: 2023 Article IV Consultation and Second Review Under the Stand-By Arrangement and Request for Modifications of Performance Criteria and Monetary Policy Consultation Clause-Press Release; Staff Report; and Statement by the Executive Director, (USA: International Monetary Fund, 2023) accessed December 22, 2024

Summary

Armenia’s growth accelerated in 2022 and remained strong in 2023, boosted by an inflow of foreign exchange, migrants, and businesses, mainly from Russia. Inflation, which peaked in the wake of the war in Ukraine, has quickly subsided. However, the regional security situation worsened significantly in September 2023, after Azerbaijan’s government took full control of Nagorno-Karabakh, which triggered the exodus of about 100,000 ethnic Armenians into Armenia. The government has responded with prompt policy measures to support their immediate needs.

Subject: Inflation, International organization, Monetary policy, Prices, Public debt, Public financial management (PFM), Revenue administration, Tax administration core functions

Keywords: Armenian authorities, End-June headline inflation inflation rate, Global, Inflation, Inflation expectation, Priority capital, SOE ownership policy, Tax administration core functions

Publication Details

Pages:

119
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/416
Stock No:

1ARMEA2023004
ISBN:

9798400262418
ISSN:

1934-7685

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