Republic of Armenia : third review under the extended arrangement, and request for waiver and modification of performance criteria; press release; staff report; and statement by the Executive Director for Republic of Armenia.

Republic of Armenia : third review under the extended arrangement, and request for waiver and modification of performance criteria; press release; staff report; and statement by the Executive Director for Republic of Armenia.

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Bibliographic Details
Imprint:	Washington, D.C. : International Monetary Fund, [2016] ©2016
Description:	1 online resource (101 pages) : color illustrations.
Language:	English
Series:	IMF country report ; no. 16/246 IMF country report ; no. 16/246.
Subject:	International Monetary Fund -- Armenia (Republic) International Monetary Fund. Economic development -- Armenia (Republic) Economic indicators -- Armenia (Republic) Economic development. Economic history. Economic indicators. Economic policy. Armenia (Republic) -- Economic conditions. Armenia (Republic) -- Economic policy. Armenia (Republic)
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12506772

Hidden Bibliographic Details
Other authors / contributors:	International Monetary Fund, publisher.
ISBN:	9781498378406 1498378404
Notes:	"July 2016." Description based on online resource; title from pdf title page (IMF.org website, viewed September 7, 2016).
Summary:	External conditions have remained difficult since the Second Review. Remittances have fallen and copper prices remain repressed. As a result, domestic demand has weakened further, with both private consumption and investment falling. The decline in imports has continued, and bank credit growth and inflation have turned negative. Nevertheless, real GDP growth has held up moderately, primarily due to export-related supply-side factors in agriculture and mining, although nominal GDP growth is lower than expected earlier. Owing to developments beyond the authorities' control, the fiscal deficit for 2015 was marginally higher than programmed. Monetary conditions have stabilized and pressures in the FX market have diminished. Banking sector profitability and loan performance have weakened but bank capitalization remains high due to efforts by banks to comply with the increase in minimum capital requirements. On the geopolitical front, there was a temporary but intense increase in regional tensions in April along the Line of Contact in the Nagorno-Karabakh conflict zone.

Description
Summary:	This paper discusses Armenia's Third Review Under the Extended Arrangement, and Request for Waiver and Modification of Performance Criteria (PC). Growth in Armenia is expected to remain subdued as recession in Russia continues and as the base effects of the 2015 one-off factors dissipate. The program performance has been broadly satisfactory. All end-December 2015 PCs, except for the fiscal deficit PC, and all the continuous PCs were met. The fiscal deficit PC was missed by 0.3 percent of GDP. The IMF staff supports completion of the review and the authorities' request for a purchase in an amount equivalent to SDR 15.65 million.
Item Description:	"July 2016."
Physical Description:	1 online resource (101 pages) : color illustrations.
ISBN:	9781498378406 1498378404