LEADER 06340oam 22013574 450 001 9910819497303321 005 20240402134229.0 010 $a1-4755-1610-X 010 $a1-4755-1903-6 010 $a1-4755-8132-7 035 $a(CKB)2550000001276682 035 $a(EBL)1676618 035 $a(SSID)ssj0001220723 035 $a(PQKBManifestationID)11695324 035 $a(PQKBTitleCode)TC0001220723 035 $a(PQKBWorkID)11222028 035 $a(PQKB)10428685 035 $a(Au-PeEL)EBL1676618 035 $a(CaPaEBR)ebr10861177 035 $a(CaONFJC)MIL598683 035 $a(OCoLC)878263452 035 $a(IMF)1ARMEE2014001 035 $a(IMF)1ARMEA2014001 035 $a(MiAaPQ)EBC1676618 035 $a(EXLCZ)992550000001276682 100 $a20020129d2014 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aRepublic of Armenia : $eRequest for Arrangement Under the Extended Fund Facility 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2014. 215 $a1 online resource (109 p.) 225 1 $aIMF Staff Country Reports 300 $aDescription based upon print version of record. 311 $a1-4755-3577-5 311 $a1-306-67432-8 327 $aCover; 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) 327 $a6. 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 Matrix 327 $aIII. 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 ISSUES 330 3 $aThis paper discusses Armenia?s Request for Arrangement Under the Extended Fund Facility (EFF). Performance under the 2010?2013 program, which was supported by arrangements under the EFF and Extended Credit Facility (ECF), was sound, with growth restored, large fiscal and external imbalances reduced, and buffers rebuilt. However, challenges remain, particularly in further reducing vulnerabilities and strengthening medium-term growth dynamics. Fiscal policy will support the growth recovery in 2014 by providing a modest stimulus, before moving to a gradual consolidation stance in 2015?2017. The IMF Staff supports the authorities? request for an IMF-supported program. 410 0$aIMF Staff Country Reports; Country Report ;$vNo. 2014/089 606 $aEconomic development$zArmenia (Republic) 606 $aExports and Imports$2imf 606 $aForeign Exchange$2imf 606 $aMoney and Monetary Policy$2imf 606 $aPublic Finance$2imf 606 $aIndustries: Financial Services$2imf 606 $aStatistics$2imf 606 $aTaxation, Subsidies, and Revenue: General$2imf 606 $aDebt$2imf 606 $aDebt Management$2imf 606 $aSovereign Debt$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aInternational Lending and Debt Problems$2imf 606 $aPublic finance & taxation$2imf 606 $aFinance$2imf 606 $aInternational economics$2imf 606 $aCurrency$2imf 606 $aForeign exchange$2imf 606 $aMonetary economics$2imf 606 $aEconometrics & economic statistics$2imf 606 $aRevenue administration$2imf 606 $aPublic debt$2imf 606 $aExternal debt$2imf 606 $aLoans$2imf 606 $aFinancial institutions$2imf 606 $aRevenue$2imf 606 $aDebts, Public$2imf 606 $aDebts, External$2imf 607 $aArmenia$xEconomic conditions 607 $aArmenia$xEconomic policy 607 $aArmenia, Republic of$2imf 615 0$aEconomic development 615 7$aExports and Imports 615 7$aForeign Exchange 615 7$aMoney and Monetary Policy 615 7$aPublic Finance 615 7$aIndustries: Financial Services 615 7$aStatistics 615 7$aTaxation, Subsidies, and Revenue: General 615 7$aDebt 615 7$aDebt Management 615 7$aSovereign Debt 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aInternational Lending and Debt Problems 615 7$aPublic finance & taxation 615 7$aFinance 615 7$aInternational economics 615 7$aCurrency 615 7$aForeign exchange 615 7$aMonetary economics 615 7$aEconometrics & economic statistics 615 7$aRevenue administration 615 7$aPublic debt 615 7$aExternal debt 615 7$aLoans 615 7$aFinancial institutions 615 7$aRevenue 615 7$aDebts, Public 615 7$aDebts, External 676 $a914.7920385 712 02$aInternational Monetary Fund, 801 0$bDcWaIMF 906 $aBOOK 912 $a9910819497303321 996 $aRepublic of Armenia$93934394 997 $aUNINA