International experts assess Armenian CB new policyMarch 3, 2009 - 22:05 AMT PanARMENIAN.Net - A number of international structures spoke out in support of dram floating rate. According to IMF assessments, the Armenian national currency overestimation made some 17-20 percent, what was pregnant with deplorable consequences and could result in hyperinflation. Experts, however, mention that dram's high rate affected the republic's economic growth. The World Bank said floating rate will strengthen Armenia's competitiveness at international markets. "Given reasonable macroeconomic management, small state debt and secure bank system, Armenia is capable to develop a strong defense line under the global financial crisis," the WB statement said. Experts say the dram-to-dollar rate will make 370/1. At that, the IMF forecasts a 1.5 percent GDP decrease. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Pashinyan’s spokesperson denies intention to visit Baku for COP29 Pashinyan’s agenda doesn’t include a trip to Baku for the COP29 conference, his press secretary Nazeli Baghdasaryan has said. Russia accuses West of preparing invasion of CSTO countries NATO is preparing an invasion of the CSTO countries, the number of provocations in the air is growing, Sergei Shoigu has said. Lithuania sending €100,000 to help Armenia fight floods consequences Armenian Prime Minister Nikol Pashinyan took to social media to thank his Lithuanian counterpart for the contribution. Armenia: Rescue workers restore pedestrian bridge for flood-hit community Rescue workers on Wednesday, June 5 restored a pedestrian bridge in the town of Alaverdi in Armenia’s north. |