Republic of Armenia: Third Reviews Under the Extended Fund Facility and Extended Credit Facility, and Request for Modification of Performance Criteria: Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Armenia.
December 22, 2011
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Armenia’s growth has picked up in 2011, led by manufacturing, mining, and services, while agriculture has rebounded from the collapse. Credit continues to grow rapidly, particularly in foreign currency and based on strong inflows to banks. Inflation has come down sharply, reflecting policy rate hikes, spending restraint, the agriculture recovery, and favorable global price developments. Challenges include safeguarding financial system stability, strengthening tax revenues to ensure sustainability and support pro-growth and pro-poor spending, improving the business environment to enhance growth and reduce poverty and unemployment, and reducing external imbalances.
Subject: Credit, External debt, Financial institutions, Loans, Money, Public debt, Revenue administration
Keywords: business registration process, CR, Credit, deficit, EFF arrangement, Global, government import, growth outturn, growth projection, ISCR, Loans
Pages:
86
Volume:
2011
DOI:
Issue:
366
Series:
Country Report No. 2011/366
Stock No:
1ARMEA2011003
ISBN:
9781463929879
ISSN:
1934-7685
