Compilation of Armenia’s balance of payments and putting that work on a regular basis in Central Bank of Armenia

Abstract

One of the essential problems of Armenian financial sector is compilation of balance of payments statistics. This important document will serve as a relevant mirror about Armenian international financial position. International financial organizations will largely consider this document while making estimates about Armenian financial sector and making their decisions to give loans to our newly developing economy. The balance of payments is a statistical statement, for a given time period, systematically summarizing the economic transactions of an economy with the rest of the world. Every independent country is supposed to have such a statement about its international financial position. Armenia also will compile its balance of payments and present it to international financial organizations. It will serve as a mirror about Armenia’s international status and will help international organizations to make decisions about lending credits to our economy. Project objectives: The main objectives of the paper are: a) to prepare, to extent feasible, estimates of Armenia’s balance of payments for 1992 and for the first quarter of 1993, b) to assist the client organization and authorities to improve their balance of payments estimation procedures in the short term, c) to review the institutional arrangements planned for the ongoing collection of the balance of payments statistics, d) to provide some conceptual framework of balance of payments methodology.