BSEC WORKING GROUP ON BANKING AND FINANCE HOLDS A SITTING IN ARMENIA
Shakeh Avoyan

"Radiolur"
Apr 9, 2009

The recurrent sitting of the Black Sea Economic Cooperation (BSEC)
Organizations’ Working Group on Banking and Finance kicked off in
Yerevan today. During the two-day sitting representatives of Armenia,
Russia, Bulgaria, Greece, Moldova, Romania, Serbia, Georgia and
Ukraine will discuss the latest developments in the field of banking
and finance, the possible ways of overcoming the financial crisis
and the measures taken by participating countries.

Vice-President of the Central Bank of Armenia Vache Gabrielyan
emphasized the importance of the sitting, underlining that the
suggestions of the working group would be presented at the sitting
of the Council of Finance Ministers due in Yerevan next week.

According to Vache Gabrielyan, the experience of all countries could
be useful under the conditions of the global financial-economic crisis.

"Our country is in an advantageous situation as compared to Ukraine
and the economic situation is identical to that of Georgia. Economic
decline is expected in all countries. From this viewpoint, Armenia
is in an advantageous position, since the financial sector does not
face serious problems," Vache Gabrielyan said.