IMPLICATIONS OF FINANCIAL CRISIS FOR ARMENIA

ARMENIA’S 2008 PRESIDENTIAL ELECTION

       

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Economic Forum Announcement

What: High Level Forum on Economic Crisis in Armenia
When: May 25, 2009 9am-6pm  

International financial organizations and most economists predict a deep and lengthy recession for a wide range of developed and developing countries. As many of these states, Armenia will face the consequences of adverse global trends, and in some ways is likely to be even more affected owing to a dramatic economic slowdown in some of its main trading partner countries.

To discuss the implications of the crisis for Armenia and help devise policy prescriptions to mitigate them, Policy Forum Armenia will hold a high level Economic Forum that will bring together representatives of international organizations, major policymakers from regional economic powerhouses, and an unprecedented line-up of Armenia’s key economic policymakers since independence.

Titled “Armenia: Weathering the Global Storm”, the Economic Forum will serve as a major venue for discussing the global and Armenia-specific trends and will culminate in a panel session where Armenia’s successive Prime Ministers will discuss policy options for the future.

The Forum will be held on May 25, 2009 in Yerevan at Paramaz Avedisian Building of the American University of Armenia, 40 Baghramyan Ave. Media sponsorship for the Forum will be provided by ArmeniaNow and HETQ newspapers. To register please email forum(at)pf-armenia.org or call (374 10) 54 32 10. 

Policy Forum Armenia is an independent professional non-profit association aimed at strengthening discourse on Armenia's economic development and national security and through that helping to shape public policy in Armenia.

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Download full text in PDF in English Հայերեն

STATEMENT

The decision of the Central Bank of Armenia (CBA) to return to a de facto free floating exchange rate regime, announced on March 3, 2009, has led to a swift reaction from economic agents. Within minutes of the announcement, some stores in Yerevan were closed, prices across a wide range of products were adjusted, and the buy-sell margins for dollar trading by banks ballooned. Following the initial reaction, at present the risk of escalation appears to have been contained. more...

                           PFA Prospectus