Republic of Armenia: Second Review Under the Stand-By Arrangement, Request for Waiver of Nonobservance of Performance Criterion, Modification of Performance Criteria, and Rephasing of Purchases: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director and Advisor for the Republic of Armenia

International Monetary Fund

No 2009/316, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses key findings of the Second Review Under the Stand-By Arrangement (SBA) for Armenia. The authorities met all quantitative performance criteria for end-June and end-September, with the exception of the end-September fiscal balance. All structural benchmarks for end-June and end-September were also implemented. The authorities request a waiver of nonobservance for the end-September fiscal balance performance criterion given the minor and temporary nature of the deviation. IMF staff supports this request, as well as the authorities’ request for completing this review.

Keywords: ISCR; CR; tax reform administration; reform; request; growth; accommodative monetary policy stance; monetary policy tool; VAT payer; exchange rate volatility; Loans; Exchange rates; Credit; Global (search for similar items in EconPapers)
Pages: 72
Date: 2009-11-19
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