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on the Republic of Armenia:

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March 7, 2014
December 7, 2012
December 12, 2011
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June 28, 2010

Article IV Staff Reports

Financial Sector Assessment Program

Projected % Change
   2014  2015
Real GDP 3.2 3.5
Consumer Prices 1.8 3.8
Source: World Economic Outlook (October 2014)
Please refer to more recent PIN/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


Resident Representative Office in Armenia

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Republic of Armenia and the IMF
Updated October 11, 2014

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Press Releases
October 01, 2014 -- Press Release: IMF Staff Reaches Preliminary Staff-Level Agreement on the First Review Under the Extended Fund Facility Arrangement and Concludes 2014 Article IV Mission to Armenia
March 07, 2014 -- Press Release: IMF Executive Board Approves US$127.6 Million Extended Arrangement for Armenia
February 04, 2014 -- Press Release: IMF Reaches Staff-Level Agreement with Armenia on Request for Extended Fund Facility Arrangement
December 23, 2013 -- Press Release: Statement at the Conclusion of an IMF Staff Mission to Armenia
September 18, 2013 -- Press Release: Statement at the Conclusion of an IMF Staff Mission to Armenia
July 01, 2013 -- Press Release: IMF Executive Board Completes Sixth Review Under EFF/ECF Arrangement for Armenia and Approves US$84 Million Disbursement
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.
January 16, 2013 -- Press Release: Armenia's Banking System Proves Resilient to Financial Crisis
December 10, 2012 -- Press Release: IMF Executive Board Completes Fifth Review Under EFF/ECF Arrangement for Armenia and Approves US$51.4 Million Disbursement
September 27, 2012 -- Press Release: Statement on the Conclusion of an IMF Staff Mission to Armenia
June 15, 2012 -- Press Release: IMF Executive Board Completes Fourth Reviews Under EFF/ECF Arrangement for Armenia and Approves US$50.7 Million Disbursement
March 27, 2012 -- Press Release: Statement at the Conclusion of an IMF Staff Mission to Armenia
December 12, 2011 -- Press Release: IMF Executive Board Completes Third Review Under EFF/ECF Arrangement for Armenia and Approves US$56.1 Million Disbursement
September 22, 2011 -- Press Release: Statement at the Conclusion of an IMF Staff Mission to Armenia
June 29, 2011 -- Press Release: IMF Executive Board Completes Second Review Under EFF/ECF Arrangement for Armenia and Approves US$57.8 Million Disbursement
April 29, 2011 -- Press Release: IMF, Central Bank of Armenia, and EBRD High-Level Workshop Focuses on Strengthening Monetary Policy Frameworks in Support of Inflation Targeting in the Caucasus, Central Asia, and Central and Eastern Europe
April 15, 2011 -- Press Release: Statement at the Conclusion of an IMF Staff Mission to Armenia
December 01, 2010 -- Press Release: IMF Executive Board Completes First Review Under EFF/ECF Arrangement for Armenia and Approves US$53.4 Million Disbursement
September 29, 2010 -- Press Release: Statement at the Conclusion of an IMF Staff Mission to Armenia
June 28, 2010 -- Press Release: IMF Executive Board Approves Three-Year Arrangement under the Extended Fund Facility and Three-Year Arrangement under the Extended Credit Facility for the Republic of Armenia
May 19, 2010 -- Press Release: IMF Reaches Staff-Level Agreement with Armenia on Three-Year Extended Fund Facility and Extended Credit Facility Programs
March 29, 2010 -- Press Release: IMF Completes Third Review Under Stand-By Arrangement for Armenia and Approves US$73.6 Million Disbursement
February 17, 2010 -- Press Release: IMF Mission Reaches Staff-Level Agreement on Third Review Under Stand-By Arrangement with Armenia
November 02, 2009 -- Press Release: IMF Completes Second Review Under Stand-By Arrangement with Armenia, Approves Request for Waiver of Nonobservance of Performance Criterion, Modification of Performance Criteria, and Rephasing of Purchases
October 12, 2009 -- Press Release: Statement by IMF Executive Directors at the Conclusion of their Visit to Armenia
September 16, 2009 -- Press Release: IMF Mission Reaches Staff-Level Agreement on Second Review Of Stand-By Arrangement with Armenia
June 22, 2009 -- Press Release: IMF Completes First Review Under Stand-By Arrangement with Armenia and Approves Increase in Financial Support to US$822.7 Million
March 06, 2009 -- Press Release: IMF Approves US$540 Million Stand-By Arrangement for Armenia
March 03, 2009 -- Press Release: IMF Announces Management Support for $540 million Loan to Armenia, Welcomes Move On Exchange Rate
November 24, 2008 -- Statement by IMF Deputy Managing Director Murilo Portugal at the Conclusion of his Visit of to Armenia
November 18, 2008 -- Press Release: IMF Executive Board Approves Three Year, US$13.6 Million Poverty Reduction and Growth Facility Arrangement for the Republic of Armenia
May 19, 2008 -- Press Release: IMF Executive Board Completes Sixth and Final Review Under the PRGF Arrangement with Armenia and Approves US$5.4 Million Disbursement
November 26, 2007 -- Press Release: IMF Executive Board Completes Fifth Review Under Armenia's PRGF Arrangement and Approves US$5.2 Million Disbursement
October 01, 2007 -- Press Release: Statement at the Conclusion of an IMF Mission to Armenia
May 29, 2007 -- Press Release: IMF's Middle East and Central Asia Department Sees the Growth Boom Continuing in the Caucasus and Central Asia, but Highlights the Need for Vigilance Against Inflationary Pressures and Excessive External Borrowing
May 16, 2007 -- Press Release: IMF Executive Board Completes Fourth Review Under Armenia's PRGF Arrangement and Approves US$5 Million Disbursement
November 22, 2006 -- Press Release: IMF Executive Board Completes Third Review Under PRGF Arrangement for Armenia and Approves US$4.9 Million Disbursement
June 19, 2006 -- Press Release: Statement by IMF Managing Director Rodrigo de Rato During his Visit to Armenia
May 18, 2006 -- Press Release: IMF Executive Board Completes Second Review Under Armenia's PRGF Arrangement and Approves US$4.9 Million Disbursement
November 14, 2005 -- Press Release: IMF Completes First Review Under PRGF for the Republic of Armenia and Approves US$4.7 Million Disbursement
July 21, 2005 -- Press Release: Press Statement at the Conclusion of the Visit of Mr. Agustín Carstens to Armenia, July 20-21, 2005
May 25, 2005 -- Press Release: IMF Executive Board Approves Three Year, US$34.2 Million Poverty Reduction and Growth Facility Arrangement for the Republic of Armenia
December 01, 2004 -- Press Release: IMF Executive Board Completes Final Review Under PRGF Arrangement for the Republic of Armenia
May 03, 2004 -- Press Release: IMF Completes Fifth Review Under PRGF for the Republic of Armenia, Approves Request for Extension of the Arrangement Through December 2004
April 26, 2004 -- Press Release: IMF, World Bank, EBRD and AsDB Release Report on CIS-7 Initiative
November 24, 2003 -- Press Release: IMF Completes Fourth Review Under PRGF for the Republic of Armenia, Grants Waiver, and Approves Disbursement of US$14 Million
November 10, 2003 -- Press Release: IMF Managing Director Horst Köhler's Statement at the Conclusion of a Visit to the Republic of Armenia
November 07, 2003 -- Press Release: IMF Managing Director Horst Köhler to Visit Armenia, Kazakhstan, Kyrgyz Republic, Russia and Tajikistan
November 07, 2003 -- Press Release: The Republic of Armenia Subscribes to the IMF's Special Data Dissemination Standard
April 02, 2003 -- Press Release: IMF Completes Third Review of Armenia's PRGF Arrangement and Request for Waiver of Performance Criterion
January 22, 2003 -- Press Release: Lucerne Conference on the CIS-7 Initiative
April 20, 2002 -- Press Release: Ministers Endorse International Initiative for Seven Poor Countries of the Commonwealth of Independent States
May 21, 2001 -- Press Release: IMF Approves in Principle US$87 Million PRGF Credit to Armenia
December 22, 1998 -- Press Release: IMF Approves Third Annual ESAF Loan for Armenia
June 25, 1997 -- Press Release: Armenia Accepts Article VIII Obligations
June 24, 1997 -- Press Release: IMF Approves Second Annual Loan for Armenia Under ESAF
February 14, 1996 -- Press Release: IMF Approves Three-Year Loan for the Republic of Armenia Under the ESAF
June 28, 1995 -- Press Release: IMF Approves Stand-By Credit and STF Drawing for Armenia