IMF Staff Country Reports

Republic of Armenia: Fifth Review Under the Stand-By Arrangement, Request for a Waiver of Nonobservance of Performance Criterion, and Modification of the Monetary Policy Consultation Clause-Press Release; and Staff Report

June 27, 2025

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Format: Chicago

International Monetary Fund. Middle East and Central Asia Dept. "Republic of Armenia: Fifth Review Under the Stand-By Arrangement, Request for a Waiver of Nonobservance of Performance Criterion, and Modification of the Monetary Policy Consultation Clause-Press Release; and Staff Report", IMF Staff Country Reports 2025, 152 (2025), accessed June 28, 2025, https://doi.org/10.5089/9798229013949.002

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Summary

Armenia’s economic outlook is broadly favorable. Real GDP growth remains strong, gradually decelerating from its previous highs as temporary external drivers have continued to dissipate. Inflation has picked up in recent months but remains moderate, around the CBA’s target. The current account is projected to be close to its norm, with transit trade expected to dissipate in 2025. Risks to the outlook stem mainly from global trade tensions and geopolitical shifts, and a slowdown in main trading partners.

Subject: Budget planning and preparation, Central Banks, Exchange rates, Expenditure, External debt, Foreign exchange, Inflation, International reserves, Prices, Public debt, Public financial management (PFM), Revenue administration

Keywords: Budget planning and preparation, Exchange rates, Financial sector stability, Inflation, International reserves

Publication Details

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