Interfax News Agency, Russia
April 4 2008

March 1 riots in Yerevan could have hurt Armenian economy – IMF

YEREVAN April 4

The mass riots that rocked Yerevan on March 1, leading to people’s
deaths, may reflect negatively on the Armenian economy, IMF permanent
representative in Armenia Nienke Oomes told Interfax.

These events could adversely affect the investment climate in
Armenia. However, it is too early to make assessments, she said. "We
still forecast 10% GDP growth in 2008, but this forecast is subject
to great uncertainty," she said.

"The most important thing for the government is to now minimize this
negative effect and discontent among people by taking concrete steps
that will demonstrate that the government has serious plans to
conduct reforms, to reduce corruption, to make the fiscal and customs
systems more transparent and fair and to increase competitiveness by
reducing monopolies," Oomes said.

On the morning of March 1, police dispersed a rally of supporters of
former Armenian President Levon Ter-Petrosian on Freedom Square in
Yerevan. The Armenian Healthcare Ministry said that during riots
eight people died.