Republic of Armenia : ex post assessment of long-term program engagement / [prepared by a staff team from the Middle East and Central Asia, Fiscal Affairs, and Policy Development and Review Departments]
Published
Washington, D.C. : International Monetary Fund, 2005
Contents -- EXECUTIVE SUMMARY -- I. INTRODUCTION -- II. OVERVIEW OF PROGRAM OBJECTIVES AND PERFORMANCE -- III. COLLABORATION WITH THE WORLD BANK -- IV. ASSESSMENT AND LESSONS -- V. CONSIDERATIONS FOR FUTURE FUND INVOLVEMENT
Summary
This paper presents an Ex Post Assessment of Long-Term Program Engagement for Armenia. The quality of program implementation was uneven at the early stages of IMF engagement, but it has improved in recent years. Implementation of some key structural reforms suffered delays, reflecting in part capacity constraints and at times insufficient ownership. Collaboration between the IMF and the World Bank has been good. The Bank has played a valuable role in facilitating the streamlining of conditionality under the Poverty Reduction and Growth Facility arrangement