Republic of Armenia: Sixth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility -Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Republic of Armenia

International Monetary Fund

No 2008/176, IMF Staff Country Reports from International Monetary Fund

Abstract: Macroeconomic performance of Armenia in 2007 has been strong, with double-digit growth and single-digit inflation for the sixth consecutive year. Fiscal policy in 2007 remains prudent, with the central government deficit limited to the programmed level of 1.8 percent of GDP. Monetary growth has accelerated in 2007, fueled by unsterilized foreign exchange intervention, cash dedollarization, and a surge in private sector credit. External developments in 2007 have shaped by large-scale inflows, high food prices, and buoyant domestic demand, amid continued dram appreciation.

Keywords: ISCR; CR; growth facility; Three-Year arrangement; Three-Year; growth; government; e-government initiative; PRGF loan; reform agenda; Poverty reduction strategy; Poverty reduction; Global (search for similar items in EconPapers)
Pages: 53
Date: 2008-06-05
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