Republic of Armenia: Sixth Reviews Under the Extended Fund Facility Arrangement and the Extended Credit Facility Arrangement

July 30, 2013

Preview Citation

Format: Chicago

Republic of Armenia: Sixth Reviews Under the Extended Fund Facility Arrangement and the Extended Credit Facility Arrangement, (USA: International Monetary Fund, 2013) accessed September 27, 2024

Summary

This paper discusses the Republic of Armenia’s Sixth reviews under the Extended Fund Facility Arrangement, and the Extended Credit Facility Arrangement. The Central Bank of Armenia has kept the policy rate at 8 percent since 2011, and has narrowed the corridor around the policy rate from 600 to 300 basis points while strengthening fine-tuning operations. Interbank interest rates have become less volatile. External adjustment slowed considerably in 2012, and external vulnerabilities persist. The current account deficit improved by just 0.3 percentage points of GDP as exports, and remittances grew at a healthy pace, as did imports.

Subject: Banking, Credit, Financial institutions, Foreign exchange, Inflation, Loans, Money, Prices, Revenue administration

Keywords: Banking sector indicator, CR, Credit, EBRD client, ECF-supported program, Exchange rate, Global, Government lending, IMF's executive board, Inflation, ISCR, Loans

Publication Details

Pages:

63
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2013/238
Stock No:

1ARMEA2013003
ISBN:

9781484386354
ISSN:

1934-7685

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