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`YOU NEEDN’T BE PROUD OF STABLE CURRENCY’
[02:48 pm] 13 February, 2009

`Provided that the government carries out a right policy with the
Central Bank we shall be able to surmount the economic crisis with
fewer losses,’ says ex-Minister of Finance and Economy Edward
Sandoyan.

The exchange rate must go down. They are wrong to maintain the
currency rate as it doesn’t help develop the country. In this respect,
we face problems and will still face if they don’t review their
policy,’ he said.

The economist says the current exchange policy doesn’t boost
efficiency of foreign branches. We have to review and better the
fiscal policy as well The Armenian dram remains the most stable
currency in the regions. I don’t think we must be proud of it as it
considerably weakens our economic potential.

Mr. Sandoyan thinks that the government should carry out a policy of
floating currency in the given circumstances.