Republic of Armenia : Sixth Reviews Under the Extended Fund Facility Arrangement and the Extended Credit Facility Arrangement

Publication Date: July 30, 2013
Electronic Access: Free Full text (PDF file size is 1,065KB).
Use the free Adobe Acrobat Reader to view this PDF file

Summary: This paper discusses the Republic of Armenia’s Sixth reviews under the Extended Fund Facility Arrangement, and the Extended Credit Facility Arrangement. The Central Bank of Armenia has kept the policy rate at 8 percent since 2011, and has narrowed the corridor around the policy rate from 600 to 300 basis points while strengthening fine-tuning operations. Interbank interest rates have become less volatile. External adjustment slowed considerably in 2012, and external vulnerabilities persist. The current account deficit improved by just 0.3 percentage points of GDP as exports, and remittances grew at a healthy pace, as did imports.
Series: Country Report No. 13/238
Subject(s): Extended Fund Facility | Extended Credit Facility | Economic growth | Fiscal policy | Financial management | Monetary policy | Economic indicators | Staff Reports | Press releases | Armenia

Publication Date: July 30, 2013
ISBN/ISSN: 9781484386354/1934-7685 Format: Paper
Stock No: 1ARMEA2013003 Pages: 63
US$18.00 (Academic Rate:
US$18.00 )
Please address any questions about this title to