ARMENIAN ANALYST AGAINST DOLLARISATION
The Messenger
Aug 4 2011
Georgia
Armenian economic analyst Tatul Manaserian has become seriously
concerned about the problems with the US economy. That situation
according to him could seriously damage Armenia’s economic conditions
when the so-called dollarisation of the country is at almost 70%.
Besides, Armenia is mainly an importing country as it imports almost
USD 3 bln whereas export is only one billion. The foreign debt in
Armenia is calculated in dollars and it is about USD 4.7 bln. Their
Russian loan is also in USD ~V 500 mln. Armenia has received private
transfers during the last year around USD 2.7 bln while Armenia~Rs
central bank keeps its reserves in dollars as well. So if there are
problems with the US Dollar, Armenia could face serious problems as
well according to Manaserian.
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