POLICY GROUP WARNS OF ECONOMIC DISASTER IN ARMENIA
The Messenger
Feb 16 2012
Georgia
On Monday, Policy Forum Armenia released a report entitled, Armenia:
Averting an Economic Catastrophe. In it, researchers suggest that
“outside shocks” could destabilize an already unhealthy economy,
and result in a decrease in GDP and a de-valuation of the local
currency Dram. Currently, Armenia owes more than 3.5 billion USD in
foreign debt.
The PFA criticized what it called a system of “crony capitalism”, and
a government that has routinely ignored economic warning signs. It
presented a series of recommendations, emphasizing the need for
“clean” political leadership.
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