EBRD PRESIDENT THINKS ARMENIA TO RESTORE ITS ECONOMIC GROWTH, THOUGH IN SLOWER-THAN-BEFORE PACE

ARKA
March 18, 2010

YEREVAN, March 18. /ARKA/. Thomas Mirow, the president of the European
Bank for Reconstruction and Development, thinks Armenia will restore
its economic growth, though in slower-than-before pace.

On Thursday, the EBRD president, speaking at a news conference in
Yerevan, said he finds a double-dip crisis here unlikely, but sees
obvious risks.

He said that governments all over the world have injected cash in
banks and many regulators made tight decisions amid the crisis.

Mirow thinks the reached growth is still fragile, and long-term
capital shortage still will be seen.

Transboundary capital flows are unlikely to reach their pre-crisis
level in the nearest future.

The EBRD president’s visit to Armenia came as part of his three-day
South-Caucasian tour.

This is his first official visit to Armenia since he took office in
July 2008.

Mirow met with Armenian President Serzh Sargsyan, Prime Minister
Tigran Sargsyan, Economy Minister Nerses Yeritsyan, Finance Minister
Tigran Davtyan and Central Bank Chairman Arthur Javadyan.