ARMENIAN OPPOSITION URGES GOVERNMENT TO "MITIGATE" EFFECTS OF WORLD CRISIS

Mediamax
October 16, 2008 Thursday
Armenia

Yerevan, 16 October: Oppositional Armenian National Congress (ANC) made
a statement, in which it demanded from the government taking measures
"to mitigate the consequences of the global financial crisis". Mediamax
reports that the statement of ANC, headed by Ex-President of Armenia
Levon Ter-Petrosyan, reads that "by its inaction and absence of
corresponding measures, the government contributes to deepening of
the approaching crisis and shocks".

The opposition demanded from the government realizing a number of
measures, among which:

"CB [Central Bank] should introduce a ban for construction recrediting
by commercial banks and a 100 per cent reservation of such credits";

"The government and the CB should announce about ruling out any
limitations, related to return of deposits, at least, in cases,
when the term of the deposit has not expired";

"The government and CB should guarantee 100 per cent return of
shares, issued by ‘ArmRosGazprom’ and ‘Vallex Group’ Companies by
means of IPOs. At the same time, they should ban realization of new
IPOs without the government’s participation;

"CB should lift all limitations concerning money transfers systems";

"CB should take upon itself the responsibility to secure in the course
of the coming 6 months the exchange rate of the national currency
within the limits, established together with the government".