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Armenia: Recent Economic Developments

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  • International Monetary Fund

Abstract

This paper reviews economic developments in the Republic of Armenia during the 1990s. Real GDP declined by a cumulative 60 percent in 1992–93; price changes reached hyperinflation levels in late 1993; and real wages declined by nearly 50 percent in the course of that year. In the fall of 1994, the authorities formulated a comprehensive program of stabilization and structural reform that was supported in December 1994 by a first purchase under the Systemic Transformation Facility.

Suggested Citation

  • International Monetary Fund, 1995. "Armenia: Recent Economic Developments," IMF Staff Country Reports 1995/111, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:1995/111
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