01888cas a2200241 a 4500 AALejournalIMF018028 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484325551 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Fiscal Affairs Dept. Armenia : Technical Assistance Report-Upgrading Fiscal Rules. Washington, D.C. : International Monetary Fund, 2017. 1 online resource (65 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 Technical Assistance Report discusses the technical advice and recommendations given by the IMF mission to the authorities of Armenia regarding design of fiscal rules and associated fiscal and institutional frameworks. Armenia has made significant strides in enhancing macroeconomic stability over the past two decades. Although Armenia's public debt remains sustainable, a prolonged adjustment is needed to restore sizable fiscal buffers, warranting an upgrade of the fiscal rule framework. The existing debt-rule-based framework provides insufficient operating guidance to fiscal policy and is not flexible enough to deal with severe economic shocks. Mechanisms to deal with a potential breach of the 60 percent debt ceiling and the 50 percent debt brake are excessively restrictive and need to be overhauled. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2017/330 Full text available on IMF http://elibrary.imf.org/view/journals/002/2017/330/002.2017.issue-330-en.xml IMF e-Library