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IMF predicts economic challenges for Armenia, disburses $17 million

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  • IMF predicts economic challenges for Armenia, disburses $17 million

    CISTran Finance
    Jan 2 2015

    IMF predicts economic challenges for Armenia, disburses $17 million

    January 2, 2015 6:00 AM
    By CISTran Finance Reports


    The International Monetary Fund (IMF) recently released its first
    review under extended arrangements with Armenia, which enables the
    disbursement of $17 million.

    The report said Armenia saw steady growth between 2010 and 2012, with
    growth slowing in 2013 and 2014. The growth rate is expected to be 2.6
    percent in 2014, with only a gradual increase predicted for 2015.

    Inflation fell below the Central Bank of Armenia's (CBA) ideal range,
    but it is expected to rise again as depreciation of the dram will
    likely drive import prices up. Also, the further depreciation of the
    Russian ruble affected the regional economic landscape at the
    beginning of the year and again in November.

    The IMF recommends that decisive action be taken by the government to
    reform macroeconomic conditions and boost growth. Part of this would
    likely come from the creation of a financial space that would
    encourage social spending and investments over the medium term.

    The report and Armenian authorities said challenges in the country are
    likely to continue, thus increasing the need for an economic policy to
    lower deficits and create financial buffers, with decisive reform a
    high priority.

    http://cistranfinance.com/news/imf-predicts-economic-challenges-for-armenia-disburses-17-million/5831/

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