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ARMENIAN GOVERNMENT SEEKS DEEPER CO-OPERATION WITH WORLD BANK
BYLINE: Lilit Gevorgyan
Global Insight
September 14, 2011
On 12 September, Armenian prime minister Tigran Sarkisian met with
the World Bank Europe and Central Asia Regional Director for the
South Caucasus Asad Alam in the Armenian capital Yerevan. Sarkisian
highlighted that his government is interested in quick implementation
of the World Bank projects to expand co-operation with it to boost
Armenia's economic development. Sarkisian listed the areas where
Armenia will seek more assistance, including industry and agriculture.
He also stressed that Armenia's governing system needs modernisation
and that is an area where the country will greatly benefit from
co-operating with the World Bank.
Significance:Armenia started its co-operation with the World Bank
shortly after gaining independence in 1991. The country has benefited
greatly from the structural reform packages that helped it to make
the transition from a Soviet to a market economy. While progress is
clearly visible, there are many lingering issues. The World Bank has
in particular urged the Armenian government to make serious efforts
to break down the oligarchic structure of the economy and improve
competition. Sarkisian, being a technocrat head of the cabinet, has
found himself at times alone in trying to break down the resistance
by big and politically well connected businesses to paying taxes.
Sarkisian's drive to expand co-operation with the World Bank will not
only help him to continue with the reform plans but also jumpstart
the sluggish pace of structural changes in the country, especially
when it comes to its governing system.
BYLINE: Lilit Gevorgyan
Global Insight
September 14, 2011
On 12 September, Armenian prime minister Tigran Sarkisian met with
the World Bank Europe and Central Asia Regional Director for the
South Caucasus Asad Alam in the Armenian capital Yerevan. Sarkisian
highlighted that his government is interested in quick implementation
of the World Bank projects to expand co-operation with it to boost
Armenia's economic development. Sarkisian listed the areas where
Armenia will seek more assistance, including industry and agriculture.
He also stressed that Armenia's governing system needs modernisation
and that is an area where the country will greatly benefit from
co-operating with the World Bank.
Significance:Armenia started its co-operation with the World Bank
shortly after gaining independence in 1991. The country has benefited
greatly from the structural reform packages that helped it to make
the transition from a Soviet to a market economy. While progress is
clearly visible, there are many lingering issues. The World Bank has
in particular urged the Armenian government to make serious efforts
to break down the oligarchic structure of the economy and improve
competition. Sarkisian, being a technocrat head of the cabinet, has
found himself at times alone in trying to break down the resistance
by big and politically well connected businesses to paying taxes.
Sarkisian's drive to expand co-operation with the World Bank will not
only help him to continue with the reform plans but also jumpstart
the sluggish pace of structural changes in the country, especially
when it comes to its governing system.