WB ADVISES DEBT RESTRUCTURING TO ARMENIA

news.am
Nov 5 2009
Armenia

Armenia is among the countries that, on the World Bank’s advice,
should restructure the debts of banks and population, but not at the
expense of government funds.

According to the WB report published by the UN News Center, poor
countries, including the former Soviet countries, which are less
integrated into global economy, are suffering a crisis because
of reduced exports and private transfers as a result of economic
recession in Russia.

The WB advises governments to create necessary legal underpinnings
for restructuring, without using government funds.