06374oam 22013214 450 991095959590332120250426110527.0978151354135815135413589781513551562151355156697815135910321513591037(CKB)3820000000019273(Au-PeEL)EBL4395759(CaPaEBR)ebr11187427(CaONFJC)MIL881616(OCoLC)946309398(IMF)1ARMEA2015003(MiAaPQ)EBC43957591ARMEA2015003(EXLCZ)99382000000001927320020129d2015 uf 0engurcnu||||||||rdacontentrdamediardacarrierRepublic 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 Armenia1st ed.Washington, D.C. :International Monetary Fund,2015.1 online resource (103 pages) illustrations, tablesIMF Staff Country Reports9781513598062 1513598066 Cover -- CONTENTS -- CONTEXT AND RECENT DEVELOPMENTS -- OUTLOOK AND RISKS -- SECOND REVIEW UNDER THE EXTENDED ARRANGEMENT -- A. Program Performance -- B. Policy Discussions -- C. Other program issues -- STAFF APPRAISAL -- BOXES -- 1. Prior Actions and Structural Benchmarks -- 2. Electricity Tariff Increase -- TABLES -- 1. Selected Economic and Financial Indicators, 2010-17 -- 2. Balance of Payments, 2010-20 -- 3. Monetary Accounts, 2010-16 -- 4. Financial Soundness Indicators for the Banking Sector, 2010-15 -- 5. Central Government Operations, 2010-17, (In billions of dram) -- 6. Central Government Operations, 2010-17, (In percent of GDP) -- 7. Medium-Term Macroeconomic Framework, 2010-20 -- 8. Indicators of Capacity to Repay the Fund, 2011-20 -- 9. External Financing Requirements and Sources, 2014-17 -- 10. Fund Disbursements and Timing of Review Under a 38-Month Arrangement Under the Extended Fund Facility -- APPENDICES -- I. Letter of Intent -- Attachment I. Technical Memorandum of Understanding -- ANNEXES -- I. Public Debt Sustainability Analysis -- II. Exchange Rate Assessment, External Debt Sustainability, and Reserve Adequacy -- III. Risk Assessment Matrix -- 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 ISSUES.This paper discusses Armenia’s Second Review Under the Extended Arrangement and Request for Waivers of Nonobservance and Rephasing. Since late 2014, Armenia’s economic performance has been affected by significantly weaker external conditions, as the slowdown of the Russian economy, the weakening of the ruble, lower metals prices, and the strengthening of the dollar have led to pressures on external receipts, particularly remittances. Performance under the program has come under strain. Three performance criteria (PCs) were missed both at end-December 2014 and end-June 2015. The authorities are requesting waivers of nonobservance for the missed June and continuous PCs. The IMF staff supports completion of the review.IMF Staff Country Reports; Country Report ;No. 2015/320Economic developmentArmenia (Republic)Banks and BankingimfExports and ImportsimfForeign ExchangeimfPublic FinanceimfStatisticsimfIndustries: Financial ServicesimfTaxationimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfTaxation, Subsidies, and Revenue: GeneralimfData Collection and Data Estimation MethodologyimfComputer Programs: OtherimfTrade: GeneralimfPublic finance & taxationimfCurrencyimfForeign exchangeimfBankingimfEconometrics & economic statisticsimfInternational economicsimfFinanceimfRevenue administrationimfExternal sector statisticsimfImportsimfEconomic and financial statisticsimfInternational tradeimfPublic debtimfBanks and bankingimfRevenueimfEconomic statisticsimfLoansimfArmenia (Republic)Economic policyArmenia (Republic)Economic conditionsArmenia, Republic ofimfEconomic developmentBanks and BankingExports and ImportsForeign ExchangePublic FinanceStatisticsIndustries: Financial ServicesTaxationBanksDepository InstitutionsMicro Finance InstitutionsMortgagesTaxation, Subsidies, and Revenue: GeneralData Collection and Data Estimation MethodologyComputer Programs: OtherTrade: GeneralPublic finance & taxationCurrencyForeign exchangeBankingEconometrics & economic statisticsInternational economicsFinanceRevenue administrationExternal sector statisticsImportsEconomic and financial statisticsInternational tradePublic debtBanks and bankingRevenueEconomic statisticsLoans330.947920853DcWaIMFBOOK9910959595903321Republic of Armenia4371280UNINA