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
Electronic Access:
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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.
Series:
Country Report No. 2023/416
Subject:
Inflation International organization Monetary policy Prices Public debt Public financial management (PFM) Revenue administration Tax administration core functions
Frequency:
regular
English
Publication Date:
December 14, 2023
ISBN/ISSN:
9798400262418/1934-7685
Stock No:
1ARMEA2023004
Format:
Paper
Pages:
119
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