Armenia Resident Representative Site
Resident Representative Office in Armenia
This web page provides information on the activities of the Office, views of the IMF staff, and the relations between Armenia and the IMF. Additional information can be found on Armenia and IMF country page, including official IMF reports and Executive Board documents in English that deal with Armenia.
News — Highlights
Open Lesson by Masood Ahmed, Director, Middle East and Central Asia Department, IMF on “Challenges and Opportunities for Armenia in the Context of Regional and Global Economic Shocks”
Armenia and the IMF
April 11, 2016
Program Note on the Republic of Armenia
Republic of Armenia: Second Review Under the Extended Arrangement and Request for Waivers of Nonobservance and Rephasing; Press Release; Staff Report; Supplement; and Statement by the Executive Director for the Republic of Armenia
November 19, 2015
Series: Country Report No. 15/320
Press Release: IMF Executive Board Completes Second Review of Armenia’s Extended Arrangement, Approves US$16.3 Million Disbursement
Caucasus and Central Asia
Economic activity in the Caucasus and Central Asia (CCA) will continue to decelerate in 2015 mainly as a consequence of lower commodity prices and spillovers from Russia's slowdown. Where fiscal space and available financing allow, temporary fiscal easing would help economies respond to weakening demand and declining remittances. Over the medium term, fiscal consolidation is needed to rebuild depleted buffers and adjust spending plans to the new regional and global economic context. In light of the depreciation of the ruble and the appreciation of the dollar, greater exchange rate flexibility would ease pressure on reserves while helping oil exporters adjust to lower oil prices. Monetary policy may need to be tightened to keep inflation expectations anchored in the face of weakening currencies. Over the medium term, deep structural reforms, particularly to improve the business climate and governance, would raise prospects and make economic growth more inclusive and diversified.