01878cas a2200241 a 4500 AALejournalIMF006906 230101c9999 xx r poo 0 0eng d 5.00 USD 9781455212736 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Republic of Armenia : 2010 Article IV Consultation, First Review Under the Extended Financing Facility and Extended Credit Facility, and Request for Modification of Performance Criteria-Staff Report; Public Information Notice and Press Release on the Executive Board Discussion. Washington, D.C. : International Monetary Fund, 2010. 1 online resource (94 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The Armenian economy suffered a major setback during the global crisis. Recent macroeconomic developments are encouraging, despite inflation pressures. The fiscal policy strategy appropriately addresses medium-term fiscal and debt vulnerabilities. The monetary policy has been appropriate. The increased flexibility of the exchange rate is serving well, and the banking sector remains sound and proved resilient to the global shocks. Further improvement in tax administration is needed to support fiscal consolidation and achieve stronger growth. Structural reforms will be essential to enhance competitiveness. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2010/350 Full text available on IMF http://elibrary.imf.org/view/journals/002/2010/350/002.2010.issue-350-en.xml IMF e-Library