Republic of Armenia : Request for Arrangement Under the Extended Fund Facility.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. Middle East and Central Asia Department.

Contributor:

International Monetary Fund, issuing body.

Series:

IMF Staff Country Reports; Country Report ; No. 2014/089

IMF Staff Country Reports

Language:

English

Subjects (All):

Economic development--Armenia (Republic).

Economic development.

Armenia--Economic conditions.

Armenia.

Armenia--Economic policy.

Physical Description:

1 online resource (109 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2014.

Language Note:

English

Summary:

This paper discusses Armenia’s Request for Arrangement Under the Extended Fund Facility (EFF). Performance under the 2010–2013 program, which was supported by arrangements under the EFF and Extended Credit Facility (ECF), was sound, with growth restored, large fiscal and external imbalances reduced, and buffers rebuilt. However, challenges remain, particularly in further reducing vulnerabilities and strengthening medium-term growth dynamics. Fiscal policy will support the growth recovery in 2014 by providing a modest stimulus, before moving to a gradual consolidation stance in 2015–2017. The IMF Staff supports the authorities’ request for an IMF-supported program.

Contents:

Cover; CONTENTS; INTRODUCTION; RECENT ECONOMIC DEVELOPMENTS; OUTLOOK AND RISKS; BOXES; 1. Gas Price Agreement; PROGRAM POLICIES; A. Fiscal Policy; 2. Tax Revenues; B. Monetary and Exchange Rate Policies; C. Financial Sector Policy; D. Structural Reforms; 3. Armenian Development Strategy 2013-25; E. Program Modalities; STAFF APPRAISAL; TABLES; 1. Selected Economic and Financial Indicators, 2009-16; 2. Balance of Payments, 2009-17; 3. Monetary Accounts, 2009-14; 4. Financial Soundness Indicators for the Banking Sector, 2019-13; 5. Central Government Operations, 2009-16 (in billions of drams)

6. Central Government Operations, 2009-16 (in percent of GDP)7. Medium-Term Macroeconomic Framework, 2009-18; 8. Indicators of Capacity to Repay the Fund, 2011-19; 9. External Financing Requirements and Sources, 2013-17; 10. Fund Disbursements and Timing of Review Under a 38-Month Arrangement Under the Extended Fund Facility; APPENDIX; I. Letter of Intent; Attachment I. Memorandum of Economic and Financial Policies; Attachment II. Technical Memorandum of Understanding; ANNEXES; I. Accession to the Eurasian Customs Union; II. Risk Assessment Matrix

III. Program Objectives, Policy Areas and Key MeasuresIV. Reserve Metrics and Exchange Rate Assessment; V. Public Sector Debt Sustainability Analysis; VI. External Debt Sustainability Analysis; CONTENTS; FUND RELATIONS; WORLD BANK AND IMF COLLABORATION-JMAP IMPLEMENTATION; RELATIONS WITH THE EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT (EBRD); RELATIONS WITH THE ASIAN DEVELOPMENT BANK (ASDB); STATISTICAL ISSUES

Notes:

Description based upon print version of record.

Description based on online resource; title from PDF cover (ebrary, viewed May 1, 2014).

ISBN:

9781475516104

147551610X

9781475519037

1475519036

9781475581324

1475581327

OCLC:

878263452