Poverty Reduction Support Credits
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Washington, DC: World Bank
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Armenia gained its independence from the
Soviet Union in 1991 and inherited a traditional Soviet-
style command economy. After a period of hyperinflation and
economic contractions, progress on basic reforms led to
greater macroeconomic stability. The reform effort
strengthened after 2000, aided by return flows of investment
from the diaspora. Recognized for its prudent fiscal
management and improved business environment, Armenia
received a Rehabilitation Credit (RC) from the World Bank in
1995 and a series of five Structural Adjustment
Credits(SACs) from 1996-2003 to maintain
stability, accelerate growth, and sustain reform. The PRSC
program in Armenia centered on four main themes that
supported Armenia's poverty- reduction objectives: i)
consolidating macroeconomic discipline and strengthening
governance;ii) sharpening competition and
entrenching property rights; iii) mitigating social and
environmental risks; and iv) modernizing the rural economy.
The PRSC also identified good governance and reduction of
corruption as essential to achieving pro-poor growth.
Furthermore, reforms implemented under the PRSC were
intended to make the social sectors more efficient, raise
the quality of services, and increase access for the poor.
Palabras clave
ACCESS TO SAFE WATER, ACCOUNTABILITY, ACCOUNTING SYSTEM, ACCRUAL BASIS, ACCUMULATION OF PAYMENT ARREARS, ADJUSTMENT LENDING, AGENCY MANAGEMENT, AGRICULTURAL DEVELOPMENT, AGRICULTURAL EXTENSION, AGRICULTURAL PRODUCTIVITY, AID EFFECTIVENESS, ANNUAL BUDGET, ANNUAL BUDGETS, AUDIT SYSTEM, AUDIT SYSTEMS, AUDITORS, BRIBES, BUDGET ALLOCATIONS, BUDGET BALANCE, BUDGET CLASSIFICATION, BUDGET CLASSIFICATION SYSTEM, BUDGET EXECUTION, BUDGET LAW, BUDGET PLANNING, BUDGET PROCESS, BUDGET REFORM, BUDGET SYSTEM, BUDGETARY FUND, BUDGETARY FUNDS, BUDGETARY PROCESS, CAPACITY BUILDING, CAPACITY CONSTRAINTS, CAPACITY-BUILDING, CAPITAL INVESTMENT, CAPITAL SPENDING, CASH BASIS, CENTRAL BANK, CHART OF ACCOUNTS, COMPETITIVE PROCUREMENT, CONDITIONALITIES, CONDITIONALITY, CONFLICT, COST ESTIMATES, COST RECOVERY, COUNTRY PROCUREMENT, COUNTRY PROCUREMENT ASSESSMENT, DEBT, DECENTRALIZATION, DIAGNOSTIC WORK, DONOR COORDINATION, DRINKING WATER, ECONOMIC GROWTH, EDUCATION SERVICES, EFFICIENCY IMPROVEMENTS, EXCHANGE RATE, EXPENDITURE ALLOCATIONS, EXPENDITURE CONTROL, EXPENDITURE DATA, EXPENDITURE MANAGEMENT, EXPENDITURE RATIONALIZATION, EXTERNAL AUDIT, EXTERNAL AUDITS, EXTREME POVERTY, FARMERS, FINANCIAL ACCOUNTABILITY, FINANCIAL INTERMEDIATION, FINANCIAL SECTOR, FISCAL ADJUSTMENT, FISCAL DEFICIT, FISCAL DEFICIT TARGET, FISCAL DEFICITS, FISCAL POSITION, FISCAL PRUDENCE, FISCAL RISK, FISCAL STANCE, FOOD SAFETY, FOOD SECURITY, FORMAL ECONOMY, GENERAL BUDGET SUPPORT, GOVERNMENT ACCOUNTS, GOVERNMENT BUDGET, GOVERNMENT EXPENDITURES, GOVERNMENT FINANCE, GOVERNMENT FINANCE STATISTICS, GOVERNMENT REVENUE, GOVERNMENT SPENDING, GROSS DOMESTIC PRODUCT, GROSS NATIONAL PRODUCT, GROWTH RATE, HEALTH CARE, HEALTH SECTOR, HEALTH SERVICES, HUMAN DEVELOPMENT, INCOME, INCOME DISTRIBUTION, INCOME POVERTY, INDEPENDENT EXTERNAL AUDITOR, INFLATION, INFRASTRUCTURE SERVICES, INTERNAL AUDIT, IRRIGATION, MACROECONOMIC MANAGEMENT, MACROECONOMIC STABILITY, MARKET ECONOMY, MEDIUM-TERM EXPENDITURE, MEDIUM-TERM EXPENDITURE FRAMEWORK, MINISTRY OF FINANCE, NATIONAL DEVELOPMENT, NATIONAL DEVELOPMENT PLAN, NATIONAL SECURITY, PENSION REFORM, PERFORMANCE ASSESSMENT, PERFORMANCE CRITERIA, PERFORMANCE INDICATORS, POLICY FORMULATION, POOR, POVERTY ASSESSMENTS, POVERTY RATES, POVERTY REDUCING, POVERTY REDUCTION, POVERTY REDUCTION STRATEGIES, POVERTY REDUCTION STRATEGY, POVERTY REDUCTION STRATEGY PAPER, POVERTY REDUCTION SUPPORT, POVERTY-REDUCING GROWTH, PRIVATE INVESTMENT, PRIVATE SECTOR, PROGRAM BUDGETING, PROGRAM BUDGETS, PROGRAM CLASSIFICATION, PROGRAMS, PRUDENT FISCAL MANAGEMENT, PUBLIC ADMINISTRATION, PUBLIC AGENCIES, PUBLIC DISCLOSURE, PUBLIC ENTERPRISE, PUBLIC EXPENDITURE, PUBLIC EXPENDITURE MANAGEMENT, PUBLIC EXPENDITURE REVIEW, PUBLIC EXPENDITURES, PUBLIC FINANCIAL MANAGEMENT, PUBLIC FINANCIAL MANAGEMENT SYSTEMS, PUBLIC HEALTH, PUBLIC INVESTMENT, PUBLIC INVESTMENT PROGRAM, PUBLIC MANAGEMENT, PUBLIC PROCUREMENT, PUBLIC SECTOR, PUBLIC SECTOR ACCOUNTING, PUBLIC SECTOR MANAGEMENT, PUBLIC SECTORS, PUBLIC SERVICE, PUBLIC SERVICE DELIVERY, PUBLIC SERVICES, PUBLIC SPENDING, PUBLIC UTILITIES, QUALITY OF EDUCATION, QUALITY OF SERVICES, QUALITY STANDARDS, REFORM EFFORTS, REFORM PROGRAM, REGULATORY FRAMEWORK, REGULATORY REFORM, RESOURCE FLOWS, RISK MANAGEMENT, RURAL, RURAL ECONOMY, SAVINGS, SECTORAL REALLOCATION, SELF-ASSESSMENT, SERVICE PROVIDERS, SERVICE PROVISION, SOCIAL BENEFITS, SOCIAL EXPENDITURES, SOCIAL INDICATORS, SOCIAL INSURANCE, SOCIAL PROTECTION, STATE BUDGET, STATE TAX, STRUCTURAL ADJUSTMENT, STRUCTURAL REFORMS, SUSTAINABILITY OF REFORMS, TARGETING, TARGETING MECHANISMS, TAX ADMINISTRATION, TAX COLLECTION, TAX COLLECTIONS, TAX EVASION, TAX PAYMENTS, TAX REFORM, TAX REVENUE, TAX REVENUES, TAX SYSTEM, TAXPAYERS, TECHNICAL ASSISTANCE, TOTAL EXPENDITURES, TRANSPARENCY, UNCERTAINTY, UNEMPLOYMENT