SYRIAN-ARMENIAN BUSINESSMEN ASKING GOVERNMENT TO FREEZE PRINCIPAL OF LOANS

15:41, 23 March, 2015

YEREVAN, 23 MARCH, ARMENPRESS. Syrian-Armenian businessmen are asking
the Armenian government to freeze the principal of the loans provided
to them under special conditions. If not, they will be forced to
terminate their activities.

This is what several Syrian-Armenian businessmen announced during a
March 23 press conference, as “Armenpress” reports.

The government had set privileges for Syrian-Armenian businessmen
within the framework of a special plan and had provided them with
special conditions to start their businesses.

“I moved to Yerevan a year ago, and I thank the people and the
government for helping us. However, due to the sharp devaluation of
the Armenian Dram in late 2014, most of us have found ourselves in
extreme conditions. That’s why we’re asking the government to freeze
the principal of the AMD 5 million loan provided to us for at least
six months so that we can pay off the interest rates,”Syrian-Armenian
businessman Hrach Bal-Manoogian said during the press conference.

Jeweler Rafi Khzhbjian noted that more and more Syrian-Armenian
businessmen are forced to sell their businesses and close down since
they can’t pay off their loans.

From: Emil Lazarian | Ararat NewsPress