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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.

Armenia (Republic) -- Economic conditions -- 1991-. --- Armenia (Republic) -- Economic policy -- 1991-. --- Economic assistance -- Armenia (Republic). --- Foreign exchange rates -- Government policy -- Armenia (Republic). --- International Monetary Fund -- Armenia (Republic). --- World Bank -- Armenia (Republic). --- Finance --- Business & Economics --- International Finance --- Foreign exchange rates --- Economic assistance --- Government policy --- International Monetary Fund --- World Bank --- Armenia (Republic) --- Economic policy --- Economic conditions --- Economic aid --- Foreign aid program --- Foreign assistance --- Grants-in-aid, International --- International economic assistance --- International grants-in-aid --- Exchange rates --- Fixed exchange rates --- Flexible exchange rates --- Floating exchange rates --- Fluctuating exchange rates --- Foreign exchange --- Rates of exchange --- Rates --- Internationaal monetair fonds --- International monetary fund --- International economic relations --- Conditionality (International relations) --- Világbank --- Banque internationale pour la reconstruction et le développement --- Mezhdunarodnyĭ bank dli︠a︡ rekonstrukt︠s︡ii i razvitii︠a︡ --- MBRR --- Sekai Ginkō --- Kokusai Fukkō Kaihatsu Ginkō --- Kukche Puhŭng Kaebal Ŭnhaeng --- Segye Ŭnhaeng --- IBRD --- Welt Bank --- Weltbank --- Banque mondiale --- Internationale Bank für Wiederaufbau und Entwicklung --- Banco Internacional de Reconstrucción y Fomento --- Banco Mundial --- B.I.R.D. --- BIRD --- Banca Internațională pentru Reconstrucție și Dezvoltare --- Mirovoĭ Bank --- Svitovyĭ Bank --- Svitovyĭ bank rekonstrukt︠s︡iï i rozvytku --- Verdensbanken --- Międzynarodowy Bank Rozwoju i Odbudowy --- Bank al-Dawlī lil-Inshāʼ wa-al-Taʻmīr --- Bank al-Dawlī --- Världsbanken --- Banca ricostruzione e sviluppo --- Banca di ricostruzione e sviluppo --- BIRF --- I.B.R.D. --- B.I.R.F. --- Shih chieh yin hang --- Shi jie yin hang --- International Bank for Reconstruction and Development --- World Bank Group. World Bank --- Thanākhān Lōk --- Bank Światowy --- Viśva Baiṅka --- Lōka Băṅkuva --- Ngân hàng Thế giới --- Vsemirnyĭ Bank --- Bank Dunia --- Msopʻlio Bankis --- Banca Mondială --- BM --- Prapañca Byāṅku --- Banca mondiale --- Banca internazionale per la ricostruzione e lo sviluppo --- Dhanāgār Bibhab Lok --- البنك الدولي --- بنك الدولي --- 世界銀行 --- 世界银行 --- 国際復興開発銀行 --- Dėlkhiĭn Bank --- Дэлхийн Банк --- Hamashkharhayin Banki --- Svetska Banka --- Wereldbank --- Internationale bank voor herstel en ontwikkeling --- Banks and Banking --- Macroeconomics --- Taxation --- Industries: Energy --- Public Finance --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Energy and the Macroeconomy --- Taxation, Subsidies, and Revenue: General --- Institutions and the Macroeconomy --- Banking --- Petroleum, oil & gas industries --- Public finance & taxation --- Energy sector --- Commercial banks --- Tax administration core functions --- Structural reforms --- Economic sectors --- Revenue administration --- Financial institutions --- Macrostructural analysis --- Banks and banking --- Energy industries --- Tax administration and procedure --- Revenue --- Armenia, Republic of