REPUBLIC OF ARMENIA PRIME MINISTER TIGRAN SARGSYAN RECEIVED A WORLD BANK DELEGATION LED BY WB MANAGING DIRECTOR NGOZI OKONJO-IVILA

gov.am
Oct 20 2009
Armenia

Highly appreciative of the outcome of his previous meeting with the
World Bank Managing-Director, the Prime Minister expressed confidence
that this visit will give a new impetus to bilateral relations.

Tigran Sargsyan briefed the guest on Armenia’s current economic status
and outlined the impact of the global crisis and his government’s
anti-crisis action. In this context, the head of the executive
emphasized that the Government has embraced an expansionary policy line
with a special focus kept on infrastructures, SME and system-building
enterprises. The full set of his government’s social commitments were
said to have been honored in parallel to these measures.

With reference to the outlook for economic development, Tigran
Sargsyan detailed the pace of tax and customs reforms. He said that
the Government is intent on getting experienced international experts
involved in practical work as this will help improve the overall
quality of administrative work. The ongoing tax and customs reforms
are supposed to considerably increase Armenia’s competitiveness,
improve the business environment and reduce the scope of black economy
in our country. Next, the Prime Minister spoke about the need for
introducing corporate management practices, completing pension reforms,
strengthening the securities market and taking urgent steps in the
spheres of education, public health care and insurance.

Ms. Okonjo-Ivila appreciated the Government’s anti-crisis efforts
by noting that during her foreign trips she often evokes them as a
good example of bilateral cooperation. Armenia’s quick-responsiveness
to operational issues was said to be highly valued by the Bank. The
Managing Director hailed the Government’s drive for reform action,
inclusive of its efforts aimed at bettering the fiscal sector,
enhancing management transparency and combating corruption throughout
the country. Armenia’s successful record may facilitate the receipt
of comprehensive assistance for follow-up action.

According to Ms. Ngozi Okonjo-Ivila, despite the unprecedented nature
of the global financial and economic crisis, Armenia’s response
was adequate enough to inspire confidence that in the long run the
Government’s economic policy may secure a place for our country
among the high-to-medium income countries instead of its today’s
ranking as a low-to-medium income country. The Armenian government
was said to have lived up to the expectations of the World Bank and
the International Financial Corporation in this matter.

Ms. Ngozi Okonjo-Ivila said to be highly appreciative and supportive of
the concept of "Armenian World" as Armenia’s chief asset in the modern
world. She cited her daughter who has many friends among capable and
promising young Armenian experts and added that Armenia could well
draw upon the international expertise of economic modernization.

In turn, Tigran Sargsyan said that in search of fastest ways of
development, Armenia should design its own development formula instead
of imitating even the best of success stories available worldwide.

The parties have also spoken about the implementation of the Blue Ocean
Strategy which may allow access to new commodity markets and services.

With reference to the settlement of Armenia-Turkey relationship,
the World Bank Managing Director said her organization is eager to
see continued efforts in this direction.

The possibility for the Bank to restructure Armenia’s external debt
was discussed, too. Such assistance would help ease debt servicing
pressures on the State budget of the Republic of Armenia.

Following the meeting, Tigran Sargsyan and Ms. Ngozi Okonjo-Ivila
attended the opening ceremony for the newly established World Bank
Office in Armenia.

Accompanied by the Managing Director, the Prime Minister walked round
the office building, got acquainted with the new premises and addressed
the staff with housewarming congratulatory remarks

From: Emil Lazarian | Ararat NewsPress