Executive Board
Board Discussions
on the Republic of Armenia:

June 23, 2017
December 7, 2016
June 15, 2016
November 6, 2015
March 7, 2014

Article IV Staff Reports

Financial Sector Assessment Program

Projected % Change
   2017  2018
Real GDP 2.9 2.9
Consumer Prices 2 3.5
Source: World Economic Outlook (April 2017)
Please refer to more recent Press Release/Staff reports on this country for possible revisions.

Republic of Armenia: Financial Position in the Fund

Transactions with the Fund

Central Bank
Central Bank of the Republic of Armenia

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Republic of Armenia and the IMF
Updated July 19, 2017

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External Debt and Fiscal Sustainability
February 04, 2002 -- Poverty Reduction, Growth and Debt Sustainability in Low-Income CIS Countries
Armenia, Azerbaijan, Georgia, the Kyrgyz Republic, Moldova, Tajikistan and Uzbekistan are the poorest countries in the CIS, and their transition to market-based economies over the past decade has been extremely difficult. In many cases, the economic disruptions created by the break-up of the former Soviet Union were compounded by diverse shocks, including armed conflicts and massive changes in the terms of trade. For the group as a whole, real GDP fell by an average of almost 50 percent between 1990 and 1995, and poverty and inequality increased substantially. Since then, growth has resumed, but both financial and physical (life expectancy and nutritional status) indicators of living standards remain depressed or may have deteriorated in some countries. In several cases, a large volume of external debt has also been accumulated, undermining prospects for growth and poverty reduction.
February 07, 2001 -- Armenia, Georgia, Kyrgyz Republic, Moldova, and Tajikistan: External Debt and Fiscal Sustainability
This paper examines the debt situation in the five CIS countries that are eligible for PRGF and IDA only. It describes the size and composition of the debt and the key factors that have led to its rapid accumulation in recent years.