Armenia : Recent Economic Developments and Selected Issues

Author/Editor:

International Monetary Fund

Publication Date:

November 15, 1999

Electronic Access:

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Summary:

This paper reports economic developments in the Republic of Armenia during 1998–99. Prior to August 1998, real GDP growth was strong, inflation had declined to moderate levels, the current account deficit was declining, and the exchange rate was stable. The Russian crisis, however, hit Armenia hard. Exports, workers’ remittances, and transfers fell sharply. This led to declining demand for output in industry, transportation, and services. In addition, Armenia suffered a decline in portfolio and direct foreign investment.

Series:

Country Report No. 99/128

Subject:

English

Publication Date:

November 15, 1999

ISBN/ISSN:

9781451801439/1934-7685

Stock No:

1ARMEA0011999

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

83

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