Republic of Armenia: Selected Issues Paper

March 11, 2015

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Format: Chicago

Republic of Armenia: Selected Issues Paper, (USA: International Monetary Fund, 2015) accessed September 19, 2024

Summary

This Selected Issues paper analyzes scope for further de-dollarization policies in Armenia. High financial dollarization makes Armenia more vulnerable to external shocks and limits its capacity to respond. The de-dollarization strategy is broad and comprehensive, and has achieved a reduction of deposit dollarization during the past few years. Additional efforts should focus on reducing inflation volatility and external imbalances, using prudential regulations to increase foreign currency liquidity in the banking system, and strengthening the monitoring of currency mismatches. International experience suggests, however, that further reductions in dollarization are likely to occur only gradually.

Subject: Dollarization, Expenditure, Fiscal multipliers, Fiscal policy, Foreign exchange, Monetary policy, Reserve requirements

Keywords: Armenia, CR, Credit dollarization, Dollarization, Dollarization strategy, Expenditure measure, Fiscal multipliers, Global, Government expenditure, Government spending, ISCR, Reserve requirements

Publication Details

Pages:

27
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/066
Stock No:

1ARMEA2015002
ISBN:

9781498387996
ISSN:

1934-7685

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