Republic of Armenia : Staff Report for the 2004 Article IV Consultation, Sixth Review Under the Poverty Reduction and Growth Facility, and Request for Waiver of Performance Criteria

International Monetary Fund

doi:10.5089/9781451801507.002

Republic of Armenia : Staff Report for the 2004 Article IV Consultation, Sixth Review Under the Poverty Reduction and Growth Facility, and Request for Waiver of Performance Criteria

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Volume/Issue:: 2004/410
Series:: IMF Staff Country Reports
Author(s):: International Monetary Fund
Publisher:: INTERNATIONAL MONETARY FUND
Published Date:: December 2004
DOI:: http://dx.doi.org/10.5089/9781451801507.002
ISBN:: 9781451801507
ISSN:: 1934-7685
Page:: 64

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 growth was 10 percent, fueled by increases in agricultural production, housing construction, and services. Since mid-2003, banking sector performance has improved, and there has been a gradual return of confidence toward banks following the resolution of eight intervened banks.

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Republic of Armenia: 2004 Article IV Consultation, Sixth Review Under the Poverty Reduction and Growth Facility, and Request for Waiver of Performance Criteria--Staff Report; Staff Statement; and Public Information Notice and Press Release on the Executive Board Discussion