Republic of Armenia: Request for Stand-By Arrangement-Staff Report; Staff Supplements and Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Armenia.
May 8, 2009
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This paper discusses Armenia’s request for a Stand-By Arrangement (SBA) with exceptional access of 400 percent of quota. Given the urgency of the situation, the request is being considered under the Emergency Financing Mechanism. The new program aims to achieve the necessary external adjustment, restore confidence in the domestic currency and the banking sector, and protect the poor. The authorities have also committed to a set of policies in the exchange rate, monetary and financial, and fiscal areas as well as on maintaining its ongoing structural reform program.
Subject: Banking, Commercial banks, Currencies, Exchange rates, External debt, Financial institutions, Foreign exchange, Money, Public debt
Keywords: Armenia, Commercial banks, CR, Currencies, customs tariff, debt, dollar, dollar sale, exchange rate depreciation, Exchange rates, fund, Global, ISCR, repayment risk, staff appraisal
Pages:
105
Volume:
2009
DOI:
Issue:
140
Series:
Country Report No. 2009/140
Stock No:
1ARMEA2009003
ISBN:
9781451801743
ISSN:
1934-7685
