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ARMENIA'S BALANCE OF PAYMENTS STILL PRETTY LARGE: IMF
/ARKA/
MARCH 28, 2012
YEREVAN
YEREVAN, March 28. /ARKA/. Armenia's balance of payments deficit in
2011 declined significantly, but still is quite large, head of the
Armenia Mission at IMF, Mark Horton, said Tuesday in Yerevan.
He said despite the fact that the volume of remittances from abroad
has grown almost to pre-crisis level and the improving structure of
exports and strong performance of the mining industry, the current
deficit of balance of payments remains high. He said therefore there
is a need to revise the medium and long-term development policies.
According to Horton, it is difficult to assert unequivocally whether
the Armenian national currency has lost or gained in value as it
depends on the method of calculation and some other factors.
"We tend to monitor the long-term and medium-term exchange rate
fluctuations," he said.
Mr. Horton then commended the government efforts designed to improve
the business environment. He expressed hope that these efforts will
result in increasing investments. He said this should become the main
task of the new government that will be formed following the May 6
parliamentary elections.
From: Baghdasarian
/ARKA/
MARCH 28, 2012
YEREVAN
YEREVAN, March 28. /ARKA/. Armenia's balance of payments deficit in
2011 declined significantly, but still is quite large, head of the
Armenia Mission at IMF, Mark Horton, said Tuesday in Yerevan.
He said despite the fact that the volume of remittances from abroad
has grown almost to pre-crisis level and the improving structure of
exports and strong performance of the mining industry, the current
deficit of balance of payments remains high. He said therefore there
is a need to revise the medium and long-term development policies.
According to Horton, it is difficult to assert unequivocally whether
the Armenian national currency has lost or gained in value as it
depends on the method of calculation and some other factors.
"We tend to monitor the long-term and medium-term exchange rate
fluctuations," he said.
Mr. Horton then commended the government efforts designed to improve
the business environment. He expressed hope that these efforts will
result in increasing investments. He said this should become the main
task of the new government that will be formed following the May 6
parliamentary elections.
From: Baghdasarian