IMF Staff Country Reports

Republic of Armenia : Fourth Review Under the Extended Arrangement and Request for Waiver and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Armenia

Author/Editor:

International Monetary Fund. Middle East and Central Asia Dept.

Publication Date:

December 13, 2016

Electronic Access:

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Summary:

This paper discusses Armenia’s Fourth Review Under the Extended Arrangement and Request for Modification of Performance Criteria. Growth is expected to reach about 2.5 percent in 2016, as the external environment continues to be weak and the effects of past positive one-off factors dissipate. Domestic demand is expected to remain subdued and inflation to remain slightly negative by end-year. The headline fiscal deficit is expected to widen to nearly 6 percent of GDP, although the cyclically adjusted primary balance is projected to fall slightly vis-à-vis 2015. The IMF staff supports completion of the review and the authorities’ request for a purchase in the amount equivalent to SDR 15.65 million.

Series:

Country Report No. 16/380

Subject:

Armenia Banking sector Debt sustainability analysis Economic conditions Economic indicators Exchange rate assessments Export growth Extended arrangement reviews External sector Financial soundness indicators Fiscal policy Letters of Intent Macroprudential policies and financial stability Macroprudential Policy Monetary policy Performance criteria modifications Press releases Staff reports