01956cas a2200241 a 4500 AALejournalIMF009710 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451801675 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Republic of Armenia : Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Request for Modification of Performance Criteria; Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Armenia. Washington, D.C. : International Monetary Fund, 2007. 1 online resource (81 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 This paper discusses key findings of the Fifth Review Under the Poverty Reduction and Growth Facility (PRGF) for Armenia. Fiscal policy has been prudent, but increasing expenditure pressures are creating medium-term fiscal risks. Tax collection still falls short of financing needs for infrastructure and poverty-reducing services, calling for further strengthening of tax administration. Monetary policy will need to be tightened in light of rising inflation risks. A firm commitment to a medium-term inflation target will be critical for anchoring price expectations and building credibility in the transition to full-fledged inflation targeting. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2007/377 Full text available on IMF http://elibrary.imf.org/view/journals/002/2007/377/002.2007.issue-377-en.xml IMF e-Library