TIGRAN SARGSYAN: FINANCIAL AND ECONOMIC PROBLEMS IN ARMENIA CAN BE SOLVED

ARKA
March 25, 2008

YEREVAN, March 25. /ARKA/. Financial and economic problems in
Armenia can be solved, Tigran Sargsyan, chairman of the Central Bank
of Armenia, said Monday in an interview with Rossiyskaya Gazeta,
while commenting Millennium Challenges $235-million program possible
suspension due to the state of emergency in Yerevan.

"Of course, this program would help Armenia very much, but we would
rather rely on own economic capacity. Armenia will move ahead by
implementing market reforms", he said in his interview.

Sargsyan said Armenia will retain its achievement, and this will
make American colleagues to reconsider their decision and resume
the project.

"Thanks to the firm fundament of our relations with Russia, we’ll
manage to overcome some difficulties we face now, including temporary
suspension of financial assistance under Millennium Challenges
program", he said.

On February 20, Armenian opposition headed by former president Levon
Ter-Petrosyan launched protests in Yerevan’s Libery Square disputing
the results of the recent presidential election and insisting that
the election was fraudulent.

The police attacked protesters Saturday night. Protesters gathered
in the square near France’s embassy and city hall.

The police department says one policeman and seven civilians were
killed and 131 injured in clashes.

President Kocharyan imposed a 20-day state of emergency on March
1.