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WORLD BANK RECOMMENDS ARMENIAN GOVERNMENT TO DIVERSIFY ECONOMY.
Exchange Morning Post
Oct 20 2009
"The World Bank recommends the government of Armenia to diversify the
economy and assure competitiveness, World Bank Managing Director Ngozi
Okonjo-Iweala said at Sunday press-conference in Yerevan. She also
said, 'if the government succeeds to get through these challenges,
it will be able to assure further development of the country's
economy.'..." [ARMINFO News (Armenia, 10/19)/Factiva]
ARKA adds that "...Okonjo-Iweala believes that Armenia has new
opportunities to raise its competitiveness, provided, particularly,
by the prospect of signing free trade agreement with the EU and
the opening of the border with Turkey. She also said the government
must take action to prevent the economy from becoming the hostage of
oligarchic and monopolistic structures. 'In the post-crisis period when
the economic situation begins to improve the government should continue
measures aimed at improvement of taxation and customs administration
that will secure additional revenues,' she said...."
[ARKA (Armenia, 10/19)/Factiva]
In related news, Xinhua writes that "...the European Commission has
proposed offering EUR100 million of economic assistance to Armenia....
The EU's executive body said Friday the aid to Armenia would include
a loan of EUR65 million and a grant of EUR35 million to support an
adjustment program agreed with the International Monetary Fund (IMF)
to help the country handle the global financial crisis...."
Exchange Morning Post
Oct 20 2009
"The World Bank recommends the government of Armenia to diversify the
economy and assure competitiveness, World Bank Managing Director Ngozi
Okonjo-Iweala said at Sunday press-conference in Yerevan. She also
said, 'if the government succeeds to get through these challenges,
it will be able to assure further development of the country's
economy.'..." [ARMINFO News (Armenia, 10/19)/Factiva]
ARKA adds that "...Okonjo-Iweala believes that Armenia has new
opportunities to raise its competitiveness, provided, particularly,
by the prospect of signing free trade agreement with the EU and
the opening of the border with Turkey. She also said the government
must take action to prevent the economy from becoming the hostage of
oligarchic and monopolistic structures. 'In the post-crisis period when
the economic situation begins to improve the government should continue
measures aimed at improvement of taxation and customs administration
that will secure additional revenues,' she said...."
[ARKA (Armenia, 10/19)/Factiva]
In related news, Xinhua writes that "...the European Commission has
proposed offering EUR100 million of economic assistance to Armenia....
The EU's executive body said Friday the aid to Armenia would include
a loan of EUR65 million and a grant of EUR35 million to support an
adjustment program agreed with the International Monetary Fund (IMF)
to help the country handle the global financial crisis...."