Republic of Armenia: Sixth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility -Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Republic of Armenia

June 5, 2008

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Republic of Armenia: Sixth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility -Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Republic of Armenia, (USA: International Monetary Fund, 2008) accessed November 12, 2024

Summary

Macroeconomic performance of Armenia in 2007 has been strong, with double-digit growth and single-digit inflation for the sixth consecutive year. Fiscal policy in 2007 remains prudent, with the central government deficit limited to the programmed level of 1.8 percent of GDP. Monetary growth has accelerated in 2007, fueled by unsterilized foreign exchange intervention, cash dedollarization, and a surge in private sector credit. External developments in 2007 have shaped by large-scale inflows, high food prices, and buoyant domestic demand, amid continued dram appreciation.

Subject: Credit, External debt, Fiscal policy, Poverty, Poverty reduction, Poverty reduction strategy, Revenue administration

Keywords: CR, E-government initiative, Global, Government, Growth, Growth facility, ISCR, Poverty reduction, Poverty reduction strategy, PRGF loan, Reform agenda, Three-Year, Three-Year arrangement

Publication Details

Pages:

53
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2008/176
Stock No:

1ARMEA2008001
ISBN:

9781451801682
ISSN:

1934-7685

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