Republic of Armenia : Third Review under the Stand-By Arrangement and Modification of Performance Criteria-Press Release;

Author/Editor:

International Monetary Fund. Middle East and Central Asia Dept.

Publication Date:

Electronic Access:

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Summary:

Armenia’s economy has been hit hard by twin shocks: the COVID-19 pandemic (now in its second wave), and the recent military hostilities involving the Nagorno- Karabakh conflict zone. Reflecting these shocks, growth is expected at -7¼ percent this year, with the fiscal deficit and debt rising considerably. Nonetheless, the authorities have responded promptly with healthcare and anti-crisis measures to limit the pandemic’s impact while protecting vulnerable groups and safeguarding macroeconomic stability.

Series:

Country Report No. 2020/318

Frequency:

regular