01959cas a2200241 a 4500 AALejournalIMF013352 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475540161 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Middle East and Central Asia Dept. Republic of Armenia : 2012 Article IV Consultation and Fifth Reviews Under the Extended Fund Facility and Under the Extended Credit Facility, and Request for Waiver and Modification of Performance Criterion-Staff Report; Press Release; Public Information Notice; and Statement by the Executive Director for Republic of Armenia. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (98 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 postcrisis recovery in Armenia has accelerated, but challenges remain. Economic policies have been broadly consistent with IMF advice. Credit growth has been strong, especially in foreign currency (FX). The banking system is sound. The central bank (CBA) is improving the regulatory and supervisory framework in line with Financial Sector Assessment Program (FSAP) recommendations. Risks are mainly on the downside and come from potential external shocks, political uncertainties, and regional conflicts. Strong adjustment is continuing in 2012 with the deficit again expected to be lower than budgeted. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2013/034 Full text available on IMF http://elibrary.imf.org/view/journals/002/2013/034/002.2013.issue-034-en.xml IMF e-Library