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And for this we are thankful.... - Armenian Reporter

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The <strong>Armenian</strong> <strong>Reporter</strong> | November 22, 2008 19ArmeniaIMF approves a three-year $13.6 million creditarrangement <strong>for</strong> ArmeniaGives Armenia’seconomicmanagement goodmarksThe Executive Board of the InternationalMonetary Fund (IMF) hasapproved a three-year $13.6 millionarrangement under the PovertyReduction and Growth Facility(PRGF) <strong>for</strong> the Republic of Armeniato support the government’s economicprogram through 2011. Thedecision will enable the Republic ofArmenia to draw an amount equivalentto about $1.9 million from theIMF immediately.Following the Executive Board’sdiscussion, Murilo Portugal, deputymanaging director and actingchair, stated:“After the successful conclusionof its third PRGF-supported programin May 2008, Armenia’s economicper<strong>for</strong>mance has remainedvery strong. High growth has beenmaintained and has contributedsignificantly to the marked reductionin poverty. Inflation has increasedin the wake of rising internationalfood and fuel prices andgrowing domestic demand pressures,although it remains lo<strong>we</strong>rthan in other CIS countries. Adherenceto prudent macroeconomicpolicies and the progress made instructural re<strong>for</strong>ms has helped toachieve these results.“The worsened global macroeconomicoutlook has increased uncertainty,but Armenia is in a strong positionto withstand the impact of theglobal economic downturn. A gradualdeceleration of growth in Armeniamay help dampen inflationary pressures.It may also contribute to reducingthe external current accountdeficit, which has increased on theback of rising imports and sluggishexports, despite strong remittanceinflows. Medium-term prospects,although highly uncertain, remainbenign in view of favorable investmentopportunities.“Continued sound fiscal and monetarypolicies remain key to maintainingmacroeconomic stability.Prudent policies <strong>are</strong> necessary toreduce the current macroeconomicimbalances. Current challengeshighlight the need to strengthenpolicy frameworks. The floatingexchange rate regime continuesto be the best option <strong>for</strong> Armenia,and the authorities <strong>are</strong> encouragedto complete the transition tofull-fledged inflation targeting. Atthe same time, building capacity<strong>for</strong> fiscal policy analysis will helpstrengthen the budgetary processand enhance fiscal policy credibility,increasing its effectiveness as ademand management tool. In addition,the authorities must be prep<strong>are</strong>dto adjust swiftly to a rapidlychanging economic environment.A <strong>we</strong>akening external environmentmight also increase Armenia’s financingneeds and possibly call <strong>for</strong>an early review of the situation.“Improving external competitivenessrequires a rene<strong>we</strong>d push <strong>for</strong>structural re<strong>for</strong>ms. Focus should beon enhancing productivity, improvingthe business environment, andNew <strong>we</strong>bsite aims at facilitating repatriationSerge Sargsianmeeting withthe IMF’s deputymanagingdirector MuriloPortugal. Photo:Photolure.boosting domestic competition. In<strong>this</strong> regard, the completion of theunfinished tax policy and administrationre<strong>for</strong>m agenda is particularlyimportant. These re<strong>for</strong>mswould significantly reduce the costof doing business, particularly inthe export sector, and contribute toleveling the playing field, ultimatelypromoting private sector development,”Mr. Portugal said. fby Nyree AbrahamianYEREVAN – Ten years ago, if someonetold you he or she was movingto Armenia, you’d be shocked,curious, and probably a little worried.Today, repatriation is a growingphenomenon among diaspora<strong>Armenian</strong>s. A generation ago, ourp<strong>are</strong>nts dreamed of one day returningto a free Armenia. Well, Armeniais free now – has been <strong>for</strong> thepast 17 years – so why not actuallylive the dream of returning to ourhomeland?Recently, the <strong>Armenian</strong> governmenthas been making significantef<strong>for</strong>ts to encourage and facilitaterepatriation. The possibility of applying<strong>for</strong> <strong>Armenian</strong> citizenshiphas recently been opened up to allpeople of <strong>Armenian</strong> descent, so repatriatesnow have the option ofobtaining dual citizenship, withall the rights (including voting)and obligations (including mandatorymilitary service <strong>for</strong> men) of atypical <strong>Armenian</strong> citizen. Anothermajor development is the newDiaspora Ministry. In addition tostrengthening ties bet<strong>we</strong>en Armeniaand the diaspora, one of theministry’s main functions is to encouragerepatriation.The latest among these recent initiativesis a <strong>we</strong>bsite designed by theMigration Agency of the Republicof Armenia called “Back to Armenia!”(www.backtoarmenia.am).The site, available in <strong>Armenian</strong>,English, and Russian, is meant towww.backtoarmenia.amhelp those who <strong>are</strong> already consideringrepatriating to Armenia byaddressing questions about citizenship,healthc<strong>are</strong>, education, militaryservice, and pensions in Armenia.It is meant to be an interactiveresource, with discussion <strong>for</strong>umson articles, a “Create a <strong>we</strong>b ticket”function, where you can voice yourcomments and concerns, and evena live chat option, where memberscan talk directly to an operator.The site has its shortcomings. A lotof the articles <strong>are</strong> only available inRussian, and its scope is a little narrow,addressing mostly <strong>Armenian</strong>swho <strong>we</strong>re born in Armenia and wholeft the country after independence,and not the broader diaspora <strong>Armenian</strong>community. But then again,that’s the main focus of the MigrationAgency. In any case, when itcomes to bridging the gap bet<strong>we</strong>enArmenia and its huge, varied, andwidely dispersed diaspora, a <strong>we</strong>bsiteaimed at facilitating repatriation isa big step in the right direction. fHranush Hakobyan: “The DiasporaMinistry is the home of every<strong>Armenian</strong>”n Continued from page 18languages,” she said. “I understandthat <strong>for</strong> the bureaucrats, they haveto base their transliterations on theoriginal identification papers, butmorally and psychologically it isunacceptable to render someone’s<strong>Armenian</strong> name in <strong>Armenian</strong> incorrectly.Now a person’s name willappear in the <strong>Armenian</strong> as the personwrites it.”We prep<strong>are</strong>d to take our leave.“I want to say three things <strong>for</strong>your readers to know,” Ms. Hakobyansaid. “The Diaspora Ministryis the home of every <strong>Armenian</strong>.They can come here and they canbe assured to receive any assistancethat they might need.“Secondly, I want them to knowand understand that the ministrydoes not govern; it cooperates withthem, consults with all the structuresand organizations in the diaspora,and adopts decisions which<strong>are</strong> acceptable to the diaspora.“Thirdly, <strong>we</strong> have to have staff atthe ministry who <strong>are</strong> diaspora <strong>Armenian</strong>.There<strong>for</strong>e <strong>we</strong> <strong>are</strong> waiting<strong>for</strong> the best specialists from thediaspora to come and work withus. There is a UN program – I havesigned an agreement with the UNoffice, <strong>for</strong> them to finance thosediaspora <strong>Armenian</strong>s who wishto come at work at the ministry<strong>for</strong> up to six months. [See http://www.undp.am/?page=Jobs <strong>for</strong> details.]“I want to stress <strong>for</strong> all of us <strong>Armenian</strong>s,our mind, conscience, soul,work, potential, financial resources,professional po<strong>we</strong>r must be directedtoward the empo<strong>we</strong>rmentof the homeland. When Armeniais strong, then every <strong>Armenian</strong>man and woman decides to remain<strong>Armenian</strong>. People politely listen tothose who <strong>we</strong>ep and cry, and thenthey walk away. They sit down andtalk to the strong. I want all of usto remember that <strong>we</strong> <strong>are</strong> no longerthe <strong>Armenian</strong>s of the 20th century,beaten, starving, <strong>we</strong>ak. We <strong>are</strong>the <strong>Armenian</strong>s of the 21st century,strong, energetic, with a view tothe future.”f

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