RUSSIA IS CAUTIOUS ABOUT REVALUATION OF THE RUBLE
Lragir.am
23 Aug 06
The Russian media informed that the Russian president Vladimir
Putin demanded that the minister of finance Alexey Kudrin stop the
revaluation of the ruble. During the August 22 meeting with Kudrin
the president said, "The revaluation of the ruble this year may have a
dramatic impact on the economy. If this process goes on, you will give
rise to problems for big companies." Besides, Putin was dissatisfied
with the growing rate of imports.
In the meantime, it is difficult to guess why the Armenian government,
namely President Robert Kocharyan fail to take care of the producers
of our country which is undergoing the same processes, but it is
supposed that all the pro-government oligarchs are importers: sugar,
flour, petrol, gas, etc.
I do not know Russia, but in Armenia the revaluation of the national
currency of Armenia has an apparently artificial component. If so
far the president of the Central Bank Tigran Sargsyan has announced
that the Central Bank does not interfere with the exchange rate of the
dram, quite recently a "pro-government" expert announced several times
within a week that the Central Bank has bought 60 million dollars to
prevent the harmful revaluation of the dram, and there is nothing
else it can do. In other words, people rack their brains to prove
that everything is normal and there is nothing artificial. They do
not seem to be successful, however.