THERE ARE NO OBJECTIVE REASONS FOR THE OCCURRED DEVALUATION OF ARMENIAN DRAM, EX-SPEAKER OF ARMENIAN PARLIAMENT THINKS

ArmInfo
2009-03-26 18:15:00

ArmInfo. There are no objective reasons for the AMD exchange rate
downfall which occurred on March 3, ex-speaker of Armenian Parliament
Tigran Torosyan said at a press-conference, Thursday. According to him,
this event had a very negative effect on Armenia’s stability.

"What happened early this month caused both economic and political
damage to the country. The devaluation of the national currency
shook the public confidence in it. The mistake of our leadership is
that it should have held the whole process smoothly, but it failed,
unfortunately",- Torosyan said.

Torosyan also pointed out that the Government and the Central Bank
should have constantly informed the society of all of their steps
instead of having artificially maintained the AMD stability. "All of
us wish the Government to overcome all these difficulties, however,
unfortunately, the course of events still fails to inspire any
optimism",- Torosyan stressed.