Vahan Hovhannesyan: artificial maintenance of AMD exchange rate harms local manufacturersMarch 19, 2010 - 19:05 AMT PanARMENIAN.Net - Artificial maintenance of AMD to USD exchange rate gave no positive results. On the opposite, by artificially maintaining the exchange rate, Armenian government squandered its foreign currency reserves. Now that they're wasted, USD started going up, ARFD parliamentary faction leader Vahan Hovhannesyan stated at parliamentary briefing. Artificial maintenance of exchange rate also harmed local manufacturers, who purchased raw material with high costing drams, selling the ready product abroad at low costing dollars, Vahan Hovhannesyan concluded. 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 | About 173 million drams and more than 30 beneficiary funds. "The Power of One Dram" is 4 years old In June 2020, the exclusive joint corporate social responsibility initiative of Idram and IDBank "The Power of One Dram" was launched. Aliyev travels to Turkey at Erdogan's invitation On June 10, Azerbaijani President of Azerbaijan Ilham Aliyev will leave for Turkey on a working visit. CSTO budget “to be adjusted due to Yerevan’s non-payment of contributions” The CSTO budget for the current year requires adjustments due to the refusal of Yerevan to pay their share of contributions. Russia sends note of protest to Armenia over envoy’s trip to Ukraine’s Bucha Russia has sent a note of protest to Armenia over the visit of Vladimir Karapetyan and Tigran Ter-Margaryan to Bucha. |