06767oam 22013934 450 991078829770332120230807210121.01-4983-1676-X(CKB)2670000000608546(EBL)2008586(SSID)ssj0001540460(PQKBManifestationID)11921391(PQKBTitleCode)TC0001540460(PQKBWorkID)11534048(PQKB)10837549(MiAaPQ)EBC2008586(Au-PeEL)EBL2008586(CaPaEBR)ebr11041900(CaONFJC)MIL763494(OCoLC)907299136(IMF)1ARMEA2015001(EXLCZ)99267000000060854620020129d2015 uf 0engur|n|---|||||txtccrRepublic of Armenia : 2014 Article IV Consultation-First Review Under the Extended Arrangement-Staff Report; Staff Supplement; and Press ReleaseWashington, D.C. :International Monetary Fund,2015.1 online resource (111 p.)IMF Staff Country ReportsDescription based upon print version of record.1-4983-9981-9 1-4983-5501-3 Cover; CONTENTS; CONTEXT AND RECENT DEVELOPMENTS; BOXES; 1. Policies since the 2012 Article IV Consultation; OUTLOOK AND RISKS; FIRST REVIEW UNDER THE EXTENDED ARRANGEMENT; A. Fiscal Policy; 2. Spillovers from Global and Regional Developments to Armenia; B. Monetary and Exchange Rate Policy; C. Financial Sector Policy; D. Structural Issues; E. Program Issues; ARTICLE IV DISCUSSIONS: REDUCING VULNERABILITIES AND INCREASING POTENTIAL GROWTH; A. Reducing vulnerabilities; B. Increasing Potential Growth and Inclusiveness; 3. Constraints to Potential Growth; FIGURES; 1. Labor MarketSTAFF APPRAISALTABLES; 1. Armenia: Selected Economic and Financial Indicators, 2009-16; 2. Balance of Payments, 2009-19; 3. Monetary Accounts, 2009-15; 4. Financial Soundness Indicators for the Banking Sector, 2009-14; 5. Central Government Operations, 2009-16, (In percent of GDP); 6. Central Government Operations, 2009-16, (In billions of dram); 7. Medium-Term Macroeconomic Framework, 2009-19; 8. Indicators of Capacity to Repay the Fund, 2011-19; 9. External Financing Requirements and Sources, 2013-1710. Fund Disbursements and Timing of Review Under a 38-Month Arrangement Under the Extended Fund FacilityAPPENDICES; I. Letter of Intent; Attachment I. Technical Memorandum of Understanding; ANNEXES; I. Armenia's Accession to the Eurasian Economic Union; II. Pension Reform: Recent Developments and Changes; III. Reserve Metrics and External Stability Assessment; IV. Public Debt Sustainability Analysis; V. Real Exchange Rate Assessment; CONTENTS; FUND RELATIONS; WORLD BANK AND IMF COLLABORATIONS-JMAP IMPLEMENTATION; RELATIONS WITH THE EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT (EBRD)RELATIONS WITH THE ASIAN DEVELOPMENT BANK (ASDB)STATISTICAL ISSUESThis 2014 Article IV Consultation highlights that after a steady recovery during 2010–12 from the deep 2009 recession, Armenia’s growth softened in 2013 and has remained subdued in 2014. The softening of economic activity has been broad based, as growth of exports and remittances slowed, and government spending was lower than budgeted. Construction, which had declined since the 2009 crisis, was relatively flat. Growth is projected at 2.6 percent in 2014 and is expected to increase only gradually in 2015 and over the medium term in light of expectations of slow growth in key trading partners. The authorities’ policies remain geared toward maintaining macroeconomic stability and fostering sustainable and inclusive growth.IMF Staff Country Reports; Country Report ;No. 2015/065Economic developmentArmenia (Republic)Economic forecastingArmenia (Republic)Banks and BankingimfForeign ExchangeimfPublic FinanceimfStatisticsimfIndustries: Financial ServicesimfExports and ImportsimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfTaxation, Subsidies, and Revenue: GeneralimfDebtimfDebt ManagementimfSovereign DebtimfData Collection and Data Estimation MethodologyimfComputer Programs: OtherimfTrade: GeneralimfPublic finance & taxationimfCurrencyimfForeign exchangeimfBankingimfFinanceimfEconometrics & economic statisticsimfInternational economicsimfRevenue administrationimfPublic debtimfLoansimfFinancial institutionsimfExchange rate flexibilityimfBanks and bankingimfRevenueimfDebts, PublicimfExportsimfArmeniaEconomic conditionsArmenia, Republic ofimfEconomic developmentEconomic forecastingBanks and BankingForeign ExchangePublic FinanceStatisticsIndustries: Financial ServicesExports and ImportsBanksDepository InstitutionsMicro Finance InstitutionsMortgagesTaxation, Subsidies, and Revenue: GeneralDebtDebt ManagementSovereign DebtData Collection and Data Estimation MethodologyComputer Programs: OtherTrade: GeneralPublic finance & taxationCurrencyForeign exchangeBankingFinanceEconometrics & economic statisticsInternational economicsRevenue administrationPublic debtLoansFinancial institutionsExchange rate flexibilityBanks and bankingRevenueDebts, PublicExports330.9595505DcWaIMFBOOK9910788297703321Republic of Armenia3717284UNINA