Republic of Armenia: Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Request for Waiver of Performance Criterion: Staff Report; and Press Release on the Executive Board Consideration

International Monetary Fund

No 2007/181, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses key findings of the Fourth Review Under the Poverty Reduction and Growth Facility for Armenia. Armenia’s economy performs strongly. All end-December 2006 quantitative and all but one structural performance criteria were observed. The main policy challenges are to broaden economic growth, raise tax revenues, and manage large foreign exchange inflows. Fiscal policy remains appropriate. Meeting the ambitious 2007 revenue target will require broadening the tax base and strengthening administration. The stance of monetary policy is appropriate.

Keywords: ISCR; CR; PRGF loan; PRGF arrangement; PRGF-supported program; government plan; government finance statistics yearbook; Monetary base; Exchange rates; Eastern Europe; Global (search for similar items in EconPapers)
Pages: 59
Date: 2007-05-23
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