ARMENIA HOPES TO GET LARGE STABILIZATION LOAN FROM RUSSIA

Interfax
Feb 3 2009
Russia

Russia could lend to Armenia from $500 million up to $1 billion,
Armenian parliament’s permanent economic commission chairman Vardan
Aivazian told journalists on Tuesday.

"Judging by the outcomes of the preliminary talks with Russia, Armenia
could get a loan from $500 million up to $1 billion. However, this
figure is not final, and everything will depend on the outcome of
talks," Aivazian said.

Asked whether Russia could demand that Armenia join the ruble zone
as a loan precondition, the MP said, "Everyone sets some conditions
when lending a sum to someone."

"Russia and Armenia are strategic partners. The loan will help increase
Russia’s political influence in Armenia. Most likely, Russia will
agree to grant us a loan," Aivazian said.

Armenia has asked Russia to grant a stabilization loan to counter
the effects of the global financial crisis. So far the officials have
not disclosed the sum and terms of the loan.

From: Emil Lazarian | Ararat NewsPress