ARMENIA IS NOT GOING TO JOIN THE ROUBLE ZONE

ArmInfo
2009-02-17 14:42:00

ArmInfo. Armenia is not going to join the rouble zone in connection
with getting $500 mln stabilizing credit from Russia, Armenian Deputy
Finance Minister, Vardan Aramyan, said today over the meeting with
teachers and students of Yerevan State University.

He also added that publications in the Armenian press about Armenia’s
jointing the rouble zone are political speculations, especially
that today economies of Armenia and Russia are not integrated
enough to introduce the single currency. Aramyan also said that
it is also favorable to Russia to give the stabilizing credit to
Armenia, as the latter is a credit worthy state and has no problem
to repay debt. Russia is also interested as many big companies with
participation of the Russia capital are functioning in Armenia, and
the economic slack may negatively affect activity of these companies,
he said.

For his part, executive director of the IMF, Age Bakker, added that
inter-governmental credits are a good financing machinery. He thinks
that the Russian stabilizing credit will make it possible to activate
the economy of Armenia. He also said Armenia is conducting quite a
flexible financial policy and is not going to change it.

From: Emil Lazarian | Ararat NewsPress