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Mr. Christian H. Beddies, Mr. Enrique A Gelbard, Mr. James McHugh, Ms. Laure Redifer, and Mr. Garbis Iradian

Abstract

This chapter reviews Armenia’s growth performance and poverty indicators since the early 1990s. It seeks to respond to the following four questions: What were the sources of growth? Can the recent rapid growth be sustained? How responsive was poverty reduction to economic growth? What is the minimum annual growth needed for Armenia to reach its poverty target by 2015? The analysis is based on a growth accounting exercise and the results of recent household surveys.

International Monetary Fund. Statistics Dept.

Abstract

1.1 This 2019 Financial Soundness Indicators Compilation Guide (Guide) provides guidance on the concepts and definitions, data sources and methods for the compilation and dissemination of financial soundness indicators (FSIs). (Table 1.1 contains the set of core and additional FSIs.)

Mr. Christian H. Beddies, Mr. Enrique A Gelbard, Mr. James McHugh, Ms. Laure Redifer, and Mr. Garbis Iradian

Abstract

Armenia’s high growth rates over the past three years have been fueled by fast-growing exports, donor inflows, remittances, and FDI. Strong export-led growth is rather surprising in a country that lacks natural resources, has been subject to a trade blockade from two important neighbors, and has poor transportation routes. This chapter analyzes changes in Armenia’s trade patterns in recent years, the role of government policies, the success of the diamond industry, and the costs and consequences of the trade blockade.

Mr. Christian H. Beddies, Mr. Enrique A Gelbard, Mr. James McHugh, Ms. Laure Redifer, and Mr. Garbis Iradian

Abstract

This chapter contains an assessment of Armenia’s transition from a state-dominated economy to a market-oriented one during the past 10 years. It begins with a brief discussion of the economic background and continues with an analysis of the main reforms undertaken, the process of economic stabilization, and economic performance. The chapter revolves around three main issues: (1) Armenia’s strong economic performance compared to similar transition countries, especially since 2001; (2) the main factors behind the ignition of the growth process; and (3) the challenges to sustaining high rates of economic growth in the future.