IMF Staff Country Reports

Republic of Armenia: Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility

Publication Date:

June 2, 2005

Electronic Access:

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Summary:

This paper assesses Armenia’s Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). Under the previous PRGF-supported program, Armenia accomplished macroeconomic stability, rapid growth, and a significant reduction in poverty. To consolidate these gains, there is a need to address the remaining structural weaknesses and implementation gaps as identified in the ex post assessment of Armenia’s long-term IMF engagement. The 2005 reform agenda is ambitious and focuses on fiscal and financial sector reforms. Armenia’s economic outlook is favorable, although not without risks.

Series:

Country Report No. 2005/178

Subject:

Banking Capital spending Expenditure External debt Fiscal policy Revenue administration