Mediamax News Agency, Armenia
Dec 26 2007

Armenian leader vows to punish culprits in domestic currency
appreciation

Yerevan, 26 December: Armenian President Robert Kocharyan has said
that the authors of the recent speculations in the currency market
will be brought to account.

The presidential press service reported that Robert Kocharyan said
this on 25 December at his meeting with Armenian businessmen,
commenting on the frequent fluctuations of the national currency rate
to the dollar, which lasted for a few days.

The Armenian president noted that relevant checks had been carried
out and that "it will be clear soon who the authors of the
speculation were".

During the meeting, Robert Kocharyan noted a growth in the volume of
mortgage loans in Armenia, a decrease in the interest rates and an
increase in the repayment terms. This fact has considerably revived
the real estate market, the president said.