Republic of Armenia: Request for Three-Year Arrangement Under the Extended Fund Facility and Extended Credit Facility, and Cancellation of the Stand-By Arrangement: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Armenia.
July 21, 2010
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Economic activity appears to be recovering, underpinned by a strong policy response. Fiscal consolidation will be crucial to maintain debt sustainability and support the envisaged external adjustment over the medium term. Sound monetary and exchange rate policies are essential to maintain macroeconomic stability. Improvements in tax administration are needed to achieve the program’s goals of sound public finances and stronger economic growth. Broader efforts to strengthen the business environment are crucial to boost medium-term growth prospects. Risks to the program are manageable.
Subject: Banking, Credit, Expenditure, External debt, Money, Public debt, Revenue administration, Tax administration core functions
Keywords: authorities breathing space, authority, banking system, CBA, CR, Credit, dollarization, dollarization measure, Europe, Global, ISCR, maturity money market instrument, overnight interest rate, revenue collection, Tax administration core functions, Three-Year arrangement
Pages:
81
Volume:
2010
DOI:
Issue:
223
Series:
Country Report No. 2010/223
Stock No:
1ARMEA2010004
ISBN:
9781455204571
ISSN:
1934-7685
