06340oam 22013574 450 991081949730332120240402134229.01-4755-1610-X1-4755-1903-61-4755-8132-7(CKB)2550000001276682(EBL)1676618(SSID)ssj0001220723(PQKBManifestationID)11695324(PQKBTitleCode)TC0001220723(PQKBWorkID)11222028(PQKB)10428685(Au-PeEL)EBL1676618(CaPaEBR)ebr10861177(CaONFJC)MIL598683(OCoLC)878263452(IMF)1ARMEE2014001(IMF)1ARMEA2014001(MiAaPQ)EBC1676618(EXLCZ)99255000000127668220020129d2014 uf 0engur|n|---|||||txtccrRepublic of Armenia : Request for Arrangement Under the Extended Fund Facility1st ed.Washington, D.C. :International Monetary Fund,2014.1 online resource (109 p.)IMF Staff Country ReportsDescription based upon print version of record.1-4755-3577-5 1-306-67432-8 Cover; CONTENTS; INTRODUCTION; RECENT ECONOMIC DEVELOPMENTS; OUTLOOK AND RISKS; BOXES; 1. Gas Price Agreement; PROGRAM POLICIES; A. Fiscal Policy; 2. Tax Revenues; B. Monetary and Exchange Rate Policies; C. Financial Sector Policy; D. Structural Reforms; 3. Armenian Development Strategy 2013-25; E. Program Modalities; STAFF APPRAISAL; TABLES; 1. Selected Economic and Financial Indicators, 2009-16; 2. Balance of Payments, 2009-17; 3. Monetary Accounts, 2009-14; 4. Financial Soundness Indicators for the Banking Sector, 2019-13; 5. Central Government Operations, 2009-16 (in billions of drams)6. Central Government Operations, 2009-16 (in percent of GDP)7. Medium-Term Macroeconomic Framework, 2009-18; 8. Indicators of Capacity to Repay the Fund, 2011-19; 9. External Financing Requirements and Sources, 2013-17; 10. Fund Disbursements and Timing of Review Under a 38-Month Arrangement Under the Extended Fund Facility; APPENDIX; I. Letter of Intent; Attachment I. Memorandum of Economic and Financial Policies; Attachment II. Technical Memorandum of Understanding; ANNEXES; I. Accession to the Eurasian Customs Union; II. Risk Assessment MatrixIII. Program Objectives, Policy Areas and Key MeasuresIV. Reserve Metrics and Exchange Rate Assessment; V. Public Sector Debt Sustainability Analysis; VI. External Debt Sustainability Analysis; CONTENTS; FUND RELATIONS; WORLD BANK AND IMF COLLABORATION-JMAP IMPLEMENTATION; RELATIONS WITH THE EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT (EBRD); RELATIONS WITH THE ASIAN DEVELOPMENT BANK (ASDB); STATISTICAL ISSUESThis paper discusses Armenia’s Request for Arrangement Under the Extended Fund Facility (EFF). Performance under the 2010–2013 program, which was supported by arrangements under the EFF and Extended Credit Facility (ECF), was sound, with growth restored, large fiscal and external imbalances reduced, and buffers rebuilt. However, challenges remain, particularly in further reducing vulnerabilities and strengthening medium-term growth dynamics. Fiscal policy will support the growth recovery in 2014 by providing a modest stimulus, before moving to a gradual consolidation stance in 2015–2017. The IMF Staff supports the authorities’ request for an IMF-supported program.IMF Staff Country Reports; Country Report ;No. 2014/089Economic developmentArmenia (Republic)Exports and ImportsimfForeign ExchangeimfMoney and Monetary PolicyimfPublic FinanceimfIndustries: Financial ServicesimfStatisticsimfTaxation, Subsidies, and Revenue: GeneralimfDebtimfDebt ManagementimfSovereign DebtimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfInternational Lending and Debt ProblemsimfPublic finance & taxationimfFinanceimfInternational economicsimfCurrencyimfForeign exchangeimfMonetary economicsimfEconometrics & economic statisticsimfRevenue administrationimfPublic debtimfExternal debtimfLoansimfFinancial institutionsimfRevenueimfDebts, PublicimfDebts, ExternalimfArmeniaEconomic conditionsArmeniaEconomic policyArmenia, Republic ofimfEconomic developmentExports and ImportsForeign ExchangeMoney and Monetary PolicyPublic FinanceIndustries: Financial ServicesStatisticsTaxation, Subsidies, and Revenue: GeneralDebtDebt ManagementSovereign DebtBanksDepository InstitutionsMicro Finance InstitutionsMortgagesInternational Lending and Debt ProblemsPublic finance & taxationFinanceInternational economicsCurrencyForeign exchangeMonetary economicsEconometrics & economic statisticsRevenue administrationPublic debtExternal debtLoansFinancial institutionsRevenueDebts, PublicDebts, External914.7920385International Monetary Fund,DcWaIMFBOOK9910819497303321Republic of Armenia3934394UNINA