PRIME MINISTER ABOUT SELLING GOLD RESERVES

Panorama.am
18:22 22/10/2008

Struggle against international financial crisis supposes meeting
4 problems, and the first one is it should not be talked about so
much, announced Prime Minister of Armenia Tigran Sargsyan in National
Assembly session. The second one is increasing capitalization level
of financial system; in this regard Armenia has no problems as our
capitalization level is high enough.

According to the Prime Minister the third point is how solvent
financial organizations are.

Regarding the question that in 2004 Central Bank sold gold reserves,
the Prime Minister said "Central Bank bought the gold by 280 dollars
and sold it by 400. The revenues have been sent to State Budget to
implement social expenses."