Armenia spent at least US$700,000 million to maintain nat’l currency

Independent economist: Armenia spent at least US$700,000 million to
maintain national currency over first 2 months of 2009

2009-03-09 16:30:00

ArmInfo. Armenia spent at least US$700,000 million to maintain national
currency over the first 2 months of 2009, Armenian economist, the
former parliamentarian Tatul Manaseryan told media Monday.

‘It is more than every of the 3 big credits Armenia is expecting from
Russia, IMF or WB. I think it inadmissible especially when the country
failed to achieve the desirable stability’, he said. Big
foreign credits should not be the only hope either, since as soon as
they are received it will be necessary to think over their repayment,
he said.

World Bank has approved a US$525 million credit to Armenia for 4 years.
By some US$500 million credits are expected also from Russia and IMF
shortly.
From: Baghdasarian

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