WHOM HE DECEIVES?

168 Zham
June 11 2009
Armenia

Armenian Prime Minister Tigran Sargsyan has expressed his satisfaction
with the [Armenian] currency policy at the meeting with Armenian
businessmen in Moscow recently. He claimed that the drastic devaluation
of the dram on 3 March was the correct decision. Moreover, he stated
that the financial segment did not lose from it, in particular there
was no outflow of deposits, no problems occurred with the banks’
capital and that currently commercial banks had high ratings.

The political situation in Armenia has finally stabilized, especially
after the Yerevan municipal election [on 31 May]. We received positive
evaluations of it from international observers as well. In addition,
the opposition received fewer votes than in the presidential election
[in February 2008] and this fact, of course, has strongly stabilized
the situation.

Thus today in Armenia, there is no critical potential, i.e. aggressive
opposition, which is ready to start actions leading to political
instability, Tigran Sargsyan said at the meeting with Armenian
businessmen in Moscow and added that the Armenian government was
enjoying trust of international financial structures, which is
testified by the increased amount of loans issued by the World Bank,
the International Monetary Fund, Asian and European banks.

Unlike our neighbours, our country’s rating stays stable whereas
theirs have been falling. It is first of all substantiated by the
fact that we attach great importance to macroeconomic indicators and
stability. We get quite positive assessments for the macro-management
and this is the reason that we have a stable rating, Tigran Sargsyan
said, which means that he has a wrong impression of the level of
Armenian businessmen’s awareness in the Russian Federation.