Armenia: Recent Economic Developments

International Monetary Fund

No 1995/111, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews economic developments in the Republic of Armenia during the 1990s. Real GDP declined by a cumulative 60 percent in 1992–93; price changes reached hyperinflation levels in late 1993; and real wages declined by nearly 50 percent in the course of that year. In the fall of 1994, the authorities formulated a comprehensive program of stabilization and structural reform that was supported in December 1994 by a first purchase under the Systemic Transformation Facility.

Keywords: ISCR; CR; exchange rate; capital expenditure; banking system; central bank; broad money; first quarter; foreign currency; state enterprise; second quarter; debt service; state government; Current spending; Currencies; Imports (search for similar items in EconPapers)
Pages: 156
Date: 1995-12-19
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