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Armenia

Yerevan, Armenia, Photo by Alexanyan

Armenia Resident Representative Site

Resident Representative Office in Armenia

This web page provides information on the activities of the Office, views of the IMF staff, and the relations between Armenia and the IMF. Additional information can be found on Armenia and IMF country page, including official IMF reports and Executive Board documents in English that deal with Armenia.

News — Highlights

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Presentation on "Global Economic Outlook and Policy Challenges for Armenia" by Teresa Daban Sanchez, IMF Resident Representative in Armenia

live on Civilnet.am (in English and Armenian); Hosted by Research Center ALTERNATIVE and Yerevan State University December 17, 2014 click for more

Interview with Teresa Daban Sanchez, IMF Resident Representative in Armenia

with Armnews Banadzev TV Program (in Armenian); December 16, 2014 click for more

“IMF: 40% of food products in Russia were from Europe, now they could be from Armenia”

Interview in Armenian with Teresa Daban Sanchez, IMF Resident Representative to “Hraparakum” TV series; December 5, 2014 December 5, 2014 click for more

Increasing Regional Risks Call for Intensified Economic Reforms in the Caucasus and Central Asia

Op-ed by Juha Kähkönen and Teresa Daban Sanchez; December 5, 2014 click for more

Presentation on "Global Economic Outlook and Policy Challenges for Armenia"

By Teresa Daban Sanchez; Yerevan, December 5, 2014 click for more

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Armenia and the IMF

Republic of Armenia: 2014 Article IV Consultation-First Review Under the Extended Arrangement-Staff Report; Staff Supplement; and Press Release

March 11, 2015
Series: Country Report No. 15/65 click for more

Republic of Armenia: Selected Issues Paper

March 11, 2015
Series: Country Report No. 15/66 click for more

IMF Executive Board Completes First Review under the Extended Arrangement, Approves US$17 Million Disbursement, and Concludes 2014 Article IV Consultation with Armenia

December 30, 2014

Increasing Regional Risks Call for Intensified Economic Reforms in the Caucasus and Central Asia

December 5, 2014

IMF Survey : Caucasus, Central Asia Face Dimmer Growth Prospects

November 3, 2014
Growth in the Caucasus and Central Asia is expected to decline by about one percentage point of GDP in response to the slowdown in Russia, says the latest regional forecast by IMF staff. click for more

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Regional Economic Outlook Update: Middle East & Central Asia

image from the publication cover

Learning to Live With Cheaper Oil Amid Weaker Demand

A large and possibly persistent decline in oil prices, and slower-than-projected growth in the euro area, China, Japan, and Russia, have substantially altered the economic context for countries in the Middle East and Central Asia. The appropriate policy response will depend on whether a country is an oil exporter or importer. A common theme, however, is that these developments present both an opportunity and an impetus to reform energy subsidies and step up structural reform efforts to support jobs and growth.

Lower oil prices have weakened the external and fiscal balances of oil exporters, including members of the Gulf Cooperation Council (GCC). Large buffers and available financing should allow most oil exporters to avoid sharp cuts in government spending, limiting the impact on near-term growth and financial stability. Oil exporters should prudently treat the oil price decline as largely permanent and adjust their medium-term fiscal consolidation plans so as to prevent major erosion of their buffers and to ensure intergenerational equity.

Gains from lower oil prices provide much-needed breathing space for oil importers but will be offset by a concurrent decline in external demand, particularly from Russia, but also from the euro area and China. Russia's sharp slowdown and currency depreciation have weakened the outlook for the Caucasus and Central Asia (CCA) because of strong linkages through trade, remittances, and foreign direct investment, suggesting the need for greater exchange rate flexibility and near-term fiscal easing where financing allows, along with stepped-up reform efforts. Click for more

Resident Representative for Armenia

Teresa Daban Sanchez

Teresa Daban Sanchez
Resident Representative
Ministry of Finance
1 Melik Adamyan Street
Room 325-326
Yerevan 0010, Armenia
E-mail: rr-arm@imf.org
Tel 1: +374-10-528-960
Tel 2: +374-10-545-834
Fax: +374-10-545-833