Armenia: Recent Economic Developments and Selected Issues

November 15, 1999

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Armenia: Recent Economic Developments and Selected Issues, (USA: International Monetary Fund, 1999) accessed November 29, 2024

Summary

This paper reports economic developments in the Republic of Armenia during 1998–99. Prior to August 1998, real GDP growth was strong, inflation had declined to moderate levels, the current account deficit was declining, and the exchange rate was stable. The Russian crisis, however, hit Armenia hard. Exports, workers’ remittances, and transfers fell sharply. This led to declining demand for output in industry, transportation, and services. In addition, Armenia suffered a decline in portfolio and direct foreign investment.

Subject: Banking, Commercial banks, Currencies, Exchange rates, Financial institutions, Foreign exchange, Monetary base, Money, Revenue administration

Keywords: Armenia, Banking sector, Commercial banks, Company, CR, Currencies, Deficit, Exchange rate, Exchange rates, Foreign currency, GDP, ISCR, Loan, Monetary base, Proceeds, Process, Rate, Revenue, Tax system, Treasury bill

Publication Details

Pages:

83
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 1999/128
Stock No:

1ARMEA0011999
ISBN:

9781451801439
ISSN:

1934-7685

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