LEADER 06235oam 22012614 450 001 9910821703603321 005 20240430212749.0 010 $a1-5135-4135-8 010 $a1-5135-5156-6 010 $a1-5135-9103-7 035 $a(CKB)3820000000019273 035 $a(Au-PeEL)EBL4395759 035 $a(CaPaEBR)ebr11187427 035 $a(CaONFJC)MIL881616 035 $a(OCoLC)946309398 035 $a(IMF)1ARMEA2015003 035 $a(MiAaPQ)EBC4395759 035 $a(EXLCZ)993820000000019273 100 $a20020129d2015 uf 0 101 0 $aeng 135 $aurcnu|||||||| 181 $2rdacontent 182 $2rdamedia 183 $2rdacarrier 200 10$aRepublic of Armenia : $eSecond 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 Armenia 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2015. 215 $a1 online resource (103 pages) $cillustrations, tables 225 1 $aIMF Staff Country Reports 311 $a1-5135-9806-6 327 $aCover -- 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. 330 3 $aThis paper discusses Armenia?s Second Review Under the Extended Arrangement and Request for Waivers of Nonobservance and Rephasing. Since late 2014, Armenia?s economic performance has been affected by significantly weaker external conditions, as the slowdown of the Russian economy, the weakening of the ruble, lower metals prices, and the strengthening of the dollar have led to pressures on external receipts, particularly remittances. Performance under the program has come under strain. Three performance criteria (PCs) were missed both at end-December 2014 and end-June 2015. The authorities are requesting waivers of nonobservance for the missed June and continuous PCs. The IMF staff supports completion of the review. 410 0$aIMF Staff Country Reports; Country Report ;$vNo. 2015/320 606 $aEconomic development$zArmenia (Republic) 606 $aBanks and Banking$2imf 606 $aExports and Imports$2imf 606 $aForeign Exchange$2imf 606 $aPublic Finance$2imf 606 $aStatistics$2imf 606 $aIndustries: Financial Services$2imf 606 $aTaxation$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aTaxation, Subsidies, and Revenue: General$2imf 606 $aData Collection and Data Estimation Methodology$2imf 606 $aComputer Programs: Other$2imf 606 $aTrade: General$2imf 606 $aPublic finance & taxation$2imf 606 $aCurrency$2imf 606 $aForeign exchange$2imf 606 $aBanking$2imf 606 $aEconometrics & economic statistics$2imf 606 $aInternational economics$2imf 606 $aFinance$2imf 606 $aRevenue administration$2imf 606 $aExternal sector statistics$2imf 606 $aImports$2imf 606 $aEconomic and financial statistics$2imf 606 $aInternational trade$2imf 606 $aPublic debt$2imf 606 $aBanks and banking$2imf 606 $aRevenue$2imf 606 $aEconomic statistics$2imf 606 $aLoans$2imf 607 $aArmenia (Republic)$xEconomic policy 607 $aArmenia (Republic)$xEconomic conditions 607 $aArmenia, Republic of$2imf 615 0$aEconomic development 615 7$aBanks and Banking 615 7$aExports and Imports 615 7$aForeign Exchange 615 7$aPublic Finance 615 7$aStatistics 615 7$aIndustries: Financial Services 615 7$aTaxation 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aTaxation, Subsidies, and Revenue: General 615 7$aData Collection and Data Estimation Methodology 615 7$aComputer Programs: Other 615 7$aTrade: General 615 7$aPublic finance & taxation 615 7$aCurrency 615 7$aForeign exchange 615 7$aBanking 615 7$aEconometrics & economic statistics 615 7$aInternational economics 615 7$aFinance 615 7$aRevenue administration 615 7$aExternal sector statistics 615 7$aImports 615 7$aEconomic and financial statistics 615 7$aInternational trade 615 7$aPublic debt 615 7$aBanks and banking 615 7$aRevenue 615 7$aEconomic statistics 615 7$aLoans 676 $a330.947920853 801 0$bDcWaIMF 906 $aBOOK 912 $a9910821703603321 996 $aRepublic of Armenia$93934394 997 $aUNINA