IMF Staff Country Reports

Republic of Armenia: Fifth Review Under the Poverty Reduction and Growth Facility and Request for Extension of the Arrangement

Publication Date:

May 14, 2004

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This paper examines Armenia’s Fifth Review Under the Poverty Reduction and Growth Facility (PRGF) and Request for Extension of the Arrangement. Performance under the PRGF-supported program since mid-2003 has been satisfactory: the authorities met all quantitative targets and implemented most of the envisaged structural measures. Tax revenue collection was somewhat disappointing in 2003, although it has improved in early 2004. Future growth in Armenia will increasingly depend on the ability of the banking system to mobilize and allocate domestic savings.

Series:

Country Report No. 2004/136

Subject:

Banking Economic sectors Energy sector Expenditure External debt Poverty Poverty reduction strategy Revenue administration