Office Activities
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June 23, 2023
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Armenia's Economic Outlook, Reform Priorities, and Progress Under the IMF-Supported Program
June 23, 2023
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Leadership and Economic Development
Presentation by Mehdi Raissi, IMF Resident Representative in Armenia at Leadership School
May 16, 2023
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Interview with Mehdi Raissi, IMF Resident Representative in Armenia to CivilNet
Investing in the Future: The IMF in Armenia
December 30, 2022
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Interview with Mehdi Raissi, IMF Resident Representative in Armenia to Arminfo News Agency
Structural reforms more urgent amid significant uncertainty – IMF
December 20, 2022
IMF’s Work on Armenia
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How More Effective Monetary Policy Can Tame Inflation in the Caucasus and Central Asia
August 28, 2023
Addressing persistent inflation also requires tackling structural factors that are making monetary policy less effective.
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How to Accelerate Economic Growth in the Caucasus and Central Asia
July 10, 2023
Since independence in the early 1990s, income levels and living standards in the Caucasus and Central Asia (CCA) have improved but remain well below the levels of emerging Europe. In the medium-term, reforms can increase output in the region by 5 to 7 percent.
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June 13, 2023
Series:Country Report No. 2023/205
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IMF Executive Board Completes the First Review Under the Stand-By Arrangement with Armenia
June 12, 2023
The Executive Board of the International Monetary Fund (IMF) completed the first review under the Stand-By Arrangement (SBA) with Armenia. The completion of the review enables access of SDR 18.4 million (about US$24.5 million), bringing total access to SDR 36.8 million (about US$49 million). The SBA was approved by the IMF’s Board on December 12, 2022 (see Press Release No. 22/429). The Armenian authorities continue to treat the arrangement as precautionary. The Executive Board’s decision on the first review was taken without a meeting.
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IMF Reaches Staff-Level Agreement on First Review for Armenia’s Stand-By Arrangement
April 13, 2023
IMF Reaches Staff-Level Agreement on First Review for Armenia’s Stand-By Arrangement
Regional Economic Outlook
May 3, 2023
The economies of the Middle East and Central Asia (ME&CA) proved resilient in 2022, despite a series of global shocks. However, this year—and potentially next—growth is expected to slow in the Middle East and North Africa (MENA) as tight policies to fight inflation, reduce vulnerabilities, and rebuild buffers start to dent economic activity in many countries, and agreed oil production cuts curb growth in oil exporters. Inflation is projected to remain persistent. The outlook for Caucasus and Central Asia (CCA) countries depends heavily on external factors, namely the impact of monetary tightening, growth in their main trading partners, the pace of private transfers, and inflows of migrants from Russia. Uncertainty is high, and risks to the baseline are tilted to the downside amid financial stability concerns—particularly in advanced economies amid contagion fears. Policy trade-offs are even more complex, and policymakers will need to calibrate the policy mix carefully to reduce core inflation without triggering financial stress and excessive tightening and continue to provide targeted fiscal support to vulnerable groups while preserving debt sustainability and financial stability. Tight monetary and fiscal policies across the region amid tight global financial conditions call for accelerating structural reforms to bolster potential growth and enhance resilience.Read the Report