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.

Format:

Book

Government document

Author/Creator:

International Monetary Fund.

Middle East and Central Asia Department, author.

Contributor:

Middle East and Central Asia Department, author.

Series:

IMF Staff Country Reports; Country Report ; No. 2011/366

IMF Staff Country Reports

Language:

English

Subjects (All):

International Monetary Fund--Armenia.

International Monetary Fund.

Economic indicators--Armenia.

Economic indicators.

Armenia--Economic conditions.

Armenia.

Armenia--Economic policy.

Physical Description:

1 online resource (88 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2011.

Language Note:

English

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.

Contents:

Cover; Contents; Executive Summary; I. Economic Context; A. Background and Program Implementation; B. Recent Developments and the Outlook for 2011; C. Short-and Medium-Term Outlook and Risks; Boxes; 1. Recent Developments and Prospects for the Construction Sector; 2. Is Armenia Prepared for a Global Downturn?; II. Policy Discussions; A. Monetary and Exchange Policy and the Financial Sector; 3. Recent Developments in Monetary Operations; B. Fiscal Policy; 4. Tax Measures in 2012; C. Structural Reforms; III. Program Issues; IV. Staff Appraisal; Tables

1. Selected Economic and Financial Indicators, 2006-132. Balance of Payments, 2008-16; 3. Monetary Accounts, 2008-12; 4. Financial Soundness Indicators for the Banking Sector, 2008-11; 5. Central Government Operations (In billions of drams), 2009-13; 6. Central Government Operations (In percent of GDP), 2009-13; 7. Medium-Term Macroeconomic Framework, 2008-16; 8. Fund Disbursements and Timing of Reviews Under a Three-year EFF/ECF Blend; 9. Indicators of Capacity to Repay the Fund, 2011-19; 10. Structural Benchmarks for Future Implementation Under the EFF/ECF; Appendixes

I. Fiscal Rules, Macroeconomic Shocks and Debt SustainabilityII: Governance and Transparency Indicators; Attachments; I. Letter of Intent; II. Updated Technical Memorandum of Understanding; Contents; I. Relations with the Fund; II. World Bank and IMF Collaboration-JMAP Implementation; III. Relations with the European Bank for Reconstruction and Development; IV. Relations with the Asian Development Bank; V. Statistical Issues

Notes:

Description based upon print version of record.

Description based on online resource; title from PDF title page (ebrary, viewed September 24, 2014).

ISBN:

9786613876898

9781463982300

1463982305

9781463959340

1463959346

9781283564441

1283564440

9781463950156

1463950152