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TERESA SANCHEZ: MANUFACTURERS IN ARMENIA MAY FACE SERIOUS PROBLEMS
13:38 | December 17,2014 | Economy
If the exchange rate is not adjusted in the near future, manufacturers
in Armenia may face serious problems, IMF Resident Representative
in Armenia Teresa Sanchez said on December 17 during a discussion on
currency fluctuations.
She says the US dollar greatly affects Armenia's economy: since
people in this country prefer to keep their savings in the US dollar,
fluctuations in the exchange rate are risky and immediately affect
them.
Teresa Sanchez stressed that the depreciation of the Armenian currency
(dram) started in September but was not as rapid and drastic as it
was in other countries, for example in Georgia.
The devaluation of the Armenian dram has its impact on import prices;
the prices of imported goods go up in the result.
"The inflation was relatively low in November. It made 2, 6 percent
in November but if study properly we can see that the economy is on
a good state as it can resist all these shocks," she said.
http://en.a1plus.am/1202691.html
13:38 | December 17,2014 | Economy
If the exchange rate is not adjusted in the near future, manufacturers
in Armenia may face serious problems, IMF Resident Representative
in Armenia Teresa Sanchez said on December 17 during a discussion on
currency fluctuations.
She says the US dollar greatly affects Armenia's economy: since
people in this country prefer to keep their savings in the US dollar,
fluctuations in the exchange rate are risky and immediately affect
them.
Teresa Sanchez stressed that the depreciation of the Armenian currency
(dram) started in September but was not as rapid and drastic as it
was in other countries, for example in Georgia.
The devaluation of the Armenian dram has its impact on import prices;
the prices of imported goods go up in the result.
"The inflation was relatively low in November. It made 2, 6 percent
in November but if study properly we can see that the economy is on
a good state as it can resist all these shocks," she said.
http://en.a1plus.am/1202691.html