Author: Varosian Antranik

EASTERN PARTNERSHIP OPENS NEW WAYS FOR ECONOMIC DEVELOPMENT OF PARTICIPATING COUNTRIES
Anna Nazaryan

"Radiolur"
26.06.2009 17:43

"The European Eastern Partnership creates certain opportunities for the
participating countries to get closer to Europe. It’s important for the
countries involved to contribute to the program by their own ideas,
because without their active participation the program is doomed to
fail," the Ambassador of Poland to Armenia, Tomas Knothe said during
the international conference on "The Eastern Partnership and the
prospects for democracy building in the South Caucasus" organized by
the Caucasus Institute and the South Caucasus Bureau of the Heinrich
Boll Foundation.

This Polish-Swedish initiative, which envisages creation of free
trade zones, opens ways for economic development, added Alexander
Dileba, Director of the Research Center of the Slovak Foreign Policy
Association.

"The European Union is the richest market in the world with a high
level of economic development, and the opportunity of creation of free
trade zones will become an open door for the economic development of
the countries involved," Alexander Dileba said.

The participating countries are provided with an opportunity to have
contacts with EU member states, he added.

Director of the Heinrich Boll Foundation in Armenia Iris Kempe
spoke about turning the ideas into concrete programs.20She hinted
about the involvement of Russia and Turkey and the cooperation with
those countries. Director of the Armenian Center for National and
International Studies Richard Giragosian emphasized the necessity of
cooperating with Iran, as well.

Political scientist Stepan Grigoryan does not imagine how the free
trade zones can be created with the Armenian-Turkish border being
closed.

IMF INCREASES FINANCIAL SUPPORT TO ARMENIA

ARKA
June 24, 2009

YEREVAN, June 24. /ARKA/. The International Monetary Fund (IMF)
has increase financial support to Armenia up to US $823mln.

IMF Resident Representative in Armenia Nienke Oomes reported that
the IMF Executive Board completed the first review of Armenia’s
economic performance under a Stand-By Arrangement (SBA) and approved
an increase in the IMF’s financial support to an amount equivalent to
SDR 533.6 million (about US$822.7 million; or 580 percent of Armenia’s
quota). These decisions enable the immediate release of SDR 102.7
million (about US$158.3 million), bringing the total disbursed to
SDR 264.2 million (about US$400 million). The Board also granted a
waiver of performance criteria on net banking system credit to the
government and the program’s fiscal balance.

She said that the funds will be provided for five years, with a
grace period of three years and three months, the SDR rate being
1.5%. About US $150mln of the funds will be repaid at the SDR rate,
the second US $150mln amount at the 1% + SDR rate and the following
amounts at the 2%+SDR rate.

The reason for the increased financial support to Armenia is a
worse financial situation in the country, lower GDP, sharp decline
in private transfers to Armenia, decreased tax revenues, which may
cause financial expenditure problems to the Government, Oomes said.

She pointed out that the increased financial support to Armenia is
supposed to prevent the Government from cutting down its expenditures,
which may worsen the situation amid the crisis.

The funds will help Armenia resist the crisis, restore the population’s
confidence in the national currency and protect the socially vulnerable
sections of the population.

Oomes said that Armenia and the IMF arranged about macroeconomic
policy, particularly about mitigating the macroeconomic and fiscal
policy and about reforms.

She pointed out that some of the funds will be used to replenish the
reserves of the Central Bank of Armenia (CBA). Under a preliminary
agreement, some of the funds will be provided to the Armenian
Government for social expenditure.

Under a program of cooperation with the RA Government, the IMF
has transferred US $240 to Armenia, with the rest US $300mln to be
transferred during the coming two years.

U.S. – ARMENIA OPEN SKIES ACCORD ENTERS INTO FORCE

armradio.am
24.06.2009 16:06

The comprehensive Open Skies agreement to expand and liberalize
bilateral civil aviation relations between the United States and the
Republic of Armenia entered into force on June 16, 2009, following an
exchange of diplomatic notes between the two countries. The agreement
was signed on November 21, 2008, after written exchanges between
officials of the Armenian and U.S. Governments.

The U.S.-Armenia Open Skies agreement represents a market-oriented
approach to aviation relations: airlines, not governments, will decide
which cities to serve, the frequency of flights, the equipment used,
and the prices charged. The agreement will strengthen and expand
the already strong trade and tourism links between the United states
and Armenia, and provide multi-million dollar benefits to American
and Armenian carriers and the traveling public, while preserving the
United States’ commitments to aviation safety and security.

ZHARANGUTIUN DEMANDS RECREATING FACT-FINDING COMMITTEE WITH INVOLVEMENT OF INTERNATIONAL EXPERTS

Noyan Tapan
June 23, 2009

YEREVAN, JUNE 23, NOYAN TAPAN. The Zharangutiun (Heritage) party
demands recreating the fact-finding committee of experts with
involvement of international experts. According to party Board
Chairwoman Anahit Bakhshian, after NA’s passing the decision On
Granting an Amnesty it became more than actual to disclose the tragic
events of the 2008 March 1-2 in Yerevan, in particular, the death
circumstances of 10 persons. In her letter to the RA President
A. Bakhshian mentioned that disclosure of those murders remains
not only the demand of society and political forces, but also the
commitment assumed by Armenia towards international structures.

GAS COVERAGE LEVEL REACHES 92 PER CENT IN ARMENIA

/PanARMENIAN.Net/
24.06.2009 12:36 GMT+04:00

/PanARMENIAN.Net/ Gas supply level reaches 92 per cent in Armenia,
Valery Golubev, vice chairman of board of directors of Gasprom said
at the "Armenia at the crossroads of communications" international
conference held in Tsakhkadzor on June 22.

According to him, that level of gas coverage is the highest among
all CIS countries, and twice higher than the Russia’s rate, which
is 60 per cent. "The program has been implemented very effectively
and successfully in Armenia, a new approach has been applied,"
Mr. Golubev said.

According to Mr. Golubev, Armenia has perfect opportunities for economy
development and integration of its energy industry. A unified energy
company, the biggest in the South Caucasus is projected to establish
at the Hrazdan Thermal Plant to supply with electric energy Georgia
and Turkey. Terminal for transshipment and transportation of oil and
petrochemical products is projected to establish, ArmRosGasprom press
office reports

PERSON SAYING ARMENIANS GOING TO BOMB MAIDEN TOWER ARRESTED IN AZERBAIJAN

Today.Az
ety/53301.html
June 22 2009
Azerbaijan

Baku police received information about the alleged plans of Armenians
to bomb the Maiden Tower on June 21, according to the press service
for the Interior Ministry of Azerbaijan.

Due measures were held and the information proved to be untrue.

Notably, it was revealed during investigation that phone terrorist is
Shamakhi resident Vusal Khalilov. Khalilov has already been detained.

Investigation is carried on this fact.

ARMENIAN ARTISTS FROM IRAN TO PRESENT THEIR WORKS AT QARA KELISA

/PanARMENIAN.Net/
23.06.2009 01:06 GMT+04:00

/PanARMENIAN.Net/ Iran’s West-Azarbaijan Province is to hold an
exhibition at Qara Kelisa, presenting artifacts created by the
country’s Armenian artists.

The event, to be held from July 22 to 26, will display various forms
of handicrafts and artistic creations on the theme of "church",
chnpress reports.

Organized by the Cultural Heritage, Handicrafts and Tourism office in
West-Azarbaijan Province, the exhibition will commemorate the martyrdom
of one of the apostles of Jesus, Saint Thaddeus, who constructed Qara
Kelisa (Black Church) in 68 CE.

Every year scores of Armenians, Assyrians and Catholics from Iran
and other countries visit the church to commemorate the martyrdom of
Saint Thaddeus and his followers.

Perched on a mountain ridge south of the city of Maku, Qara Kelisa
is one of the oldest and most notable surviving Christian monuments
of Iran and carries great significance for the country’s Armenian
Orthodox community, presstv.com reported.

Armenians believe the church is the world’s first church and was
constructed by Saint Thaddeus, after he traveled to Armenia, then
part of the Persian Empire, to preach the teachings of Christ.

Qara Kelisa has been registered as the ninth Iranian
historical-cultural heritage site on the United Nations Educational
Scientific and Cultural Organization’s (UNESCO) World Heritage List.

WORLD BANK APPROVES NEW ASSISTANCE PROGRAMME WITH ARMENIA
Venla Sipila

World Markets Research Centre
Global Insight
June 17, 2009

The Board of the World Bank has approved a new co-operation programme
for Armenia. According to ARKA News, the international lender will
extend $670US-700 million for the country during 2009-2012. The new
loans will be supplied under a new Country Partnership Strategy,
formulated to fit Armenia’s Sustainable Development Programme (SDP)
with the World Bank. The SDP aims at addressing vulnerability in the
short term, while also seeking to strengthen competitiveness in the
long term. In particular, the new programme will see $150US million
extended in the form of International Development Agency (IDA) credit
with especially soft lending terms, while $395US million will come
in the form of International Bank of Reconstruction and Development
(IBRD) lending, and some $120US-160 million will be lent via the
private sector through the International Finance Corporation (IFC).

Significance:With foreign investment and remittances now in short
supply due to the global downturn, Armenian external borrowing needs
have increased. Effects from the global crisis have lifted Armenian
financial risks, given its wide external financing needs. In addition
to loans from the World Bank, Armenia has secured emergency funding
from the International Monetary Fund (IMF; seeArmenia: 9 March 2009:
).The now approved new World Bank credits further highlight the
notion that, while Armenian risks and challenges remain considerable,
its recent reform efforts have been convincing enough to secure
it strong help from international financial institutions. However,
the currently pressingly high financing needs have also necessitated
further borrowing. Notably, Russia agreed to a $500US-million loan,
which according to ARKA News was withdrawn to Armenian accounts last
week (seeArmenia: 21 May 2009:).

ARMENIAN-SYRIAN BUSINESS FORUM STARTS IN YEREVAN

Noyan Tapan
June 18, 2009

YEREVAN, JUNE 18, NOYAN TAPAN. In conditions of the current
political and economic realities, Armenia and Syria build warm and
dynamically developing relations of a new quality, and the levels
of their political and economic cooperation should strive for an
equality. Armenian President Serzh Sargsyan stated this at the June
18 opening ceremony of the Armenian-Syrian business forum, in which
Syrian President Bashar al-Assad also participated.

"This purpose is not only a good will, but also an achievable target,
especially as entrepreneurs of Armenian descent are seriously
represented in the business circles of Syria," S. Sargsyan said,
adding that during the meetings between him and Bashar al-Assad,
special attention was given to the problems of developing the trade
and economic relations between the two countries. In his words,
thanks to efforts of the governments of Armenia and Syria, quite a
favorable legal and contractual field has been formed for promotion
of the trade and economic cooperation.

S. Sargsyan said that the forum is a good occasion for becoming
acquainted with each other’s achievements in the trade and economic
sphere and establishing business links. "I am convinced that there
is great potential in scientific-technical, agricultural, energy,
urban development, tourism, trade and financial banking sectors,
and our task today is to consolidate the realistic objectives aimed
at realizing that potentail," S. Sargsyan stated.

Underlining the special role of Armenians living in Syria, he said:
"I should ask you to contribute – by using your opportunities and
business connections – to the identification of the current trade
and economic potential between our countries and to the presentation
of each other’s products in the two countries". S. Sargsyan assured
those present that each new initiative, each project on the promotion
of economic relations will receive support.

IRAN’S COUNCIL INVITES DEFEATED CANDIDATES FOR VOTE MEETING

/PanARMENIAN.Net/
18.06.2009 20:41 GMT+04:00

/PanARMENIAN.Net/ Iran’s top legislative body has invited the three
defeated candidates in last week’s presidential election to a meeting
on Saturday to discuss their complaints. The meeting will be attended
by 12 council members who have already begun "careful examination"
of 646 complaints concerning electoral wrongdoings. The council
expressed willingness to re-calculate ballot papers, but has ruled
out canceling the election result.

Ahmadinejad’s main challenger in the elections, Mirhossein Mousavi
has demanded that election results be reviewed