IMF: OPEN BORDERS CAN WHIP UP ARMENIAN ECONOMY

PanARMENIAN.NET
09.09.2009 12:40 GMT+04:00

/PanARMENIAN.Net/ The International Monetary Fund hopes that open
borders will be a perfect stimulus for Armenia’s economy.

"Armenia is still a transition economy with ongoing market processes,"
Ms. Nienke Oomes, IMF Resident Representative in Armenia, told
reporters in Yerevan today.

"There is a large number of market mechanisms but the country is not
competitive enough," she said.

Armenia’s competitiveness index has not changed. The country is 97th
in the list of 133 countries of the world.