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...

This paper evaluates the Republic of Armenia’s Third Review Under the Poverty Reduction and Growth Facility (PRGF) and a Request for Waiver of Performance Criterion. The PRGF-supported program remains on track. All but one of the December 2002 quantitative performance criteria were met, and...

This paper examines Armenia’s 2004 Article IV Consultation, Sixth Review Under the Poverty Reduction and Growth Facility, and Request for Waiver of Performance Criteria. Armenia’s strong economic performance has been continuing in 2004. In January–September, the year-over-year rate of GDP...

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...

The Armenian government adopted the Poverty Reduction Strategy Paper (PRSP), and the first years of the PRSP implementation have evidently resulted in the significant reduction of both poverty and extreme poverty. The main focus has been sustainable economic growth, institutional reforms, and...

The staff report for the Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility focuses on the Republic of Armenia’s economic environment and policy discussion. Financial sector reforms will focus on improving corporate governance, strengthening...

The staff report for the First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility on the Republic of Armenia highlights economic developments and the macroeconomic framework. Armenia’s economy continues to perform strongly. Prudent fiscal and monetary...

This paper discusses key findings of the Fifth Review Under the Poverty Reduction and Growth Facility (PRGF) for Armenia. Fiscal policy has been prudent, but increasing expenditure pressures are creating medium-term fiscal risks. Tax collection still falls short of financing needs for...

This paper assesses Armenia’s Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). Under the previous PRGF-supported program, Armenia accomplished macroeconomic stability, rapid growth, and a significant reduction in poverty. To consolidate these gains,...