## Republic of Armenia: Ex Post Assessment of Long-Term Program Engagement

_IMF Staff Country Reports, January 4, 2005_

## Source details

**Canonical URL:** [Republic of Armenia: Ex Post Assessment of Long-Term Program Engagement](https://www.imf.org/en/publications/cr/issues/2016/12/31/republic-of-armenia-ex-post-assessment-of-long-term-program-engagement-17962)

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## Bibliographic details
- Published: January 4, 2005
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451801569.002

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### Summary
- This paper presents an Ex Post Assessment of Long-Term Program Engagement for Armenia.
- The quality of program implementation was uneven at the early stages of IMF engagement, but it has improved in recent years.
- Implementation of some key structural reforms suffered delays, reflecting in part capacity constraints and at times insufficient ownership.
- Collaboration between the IMF and the World Bank has been good.
- The Bank has played a valuable role in facilitating the streamlining of conditionality under the Poverty Reduction and Growth Facility arrangement.

### Key findings
- Program implementation quality:
  - Uneven at early stages of IMF engagement.
  - Improved in recent years.
- Structural reforms:
  - Some key structural reforms experienced delays.
  - Delays reflected capacity constraints and at times insufficient ownership.
- Multilateral collaboration:
  - IMF–World Bank collaboration described as good.
  - The World Bank facilitated streamlining of conditionality under the Poverty Reduction and Growth Facility arrangement.

### Subject areas and keywords
- Subject: Banking, Commercial banks, Economic sectors, Energy sector, Financial institutions, Macrostructural analysis, Revenue administration, Structural reforms, Tax administration core functions
- Keywords: Armenia, banking sector, Commercial banks, CR, Energy sector, ESAF, ESAF period, ESAF program, expenditure arrears, government, ISCR, Met, PRGF arrangement, private sector, Structural reforms, Tax administration core functions

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/republic-of-armenia-ex-post-assessment-of-long-term-program-engagement-17962_