Armenia does not included in the World Bank and International currency fund program for writing off of the debts of poor countries with high indebtedness level. This is stated in the report introduced by the WB and IMF experts. As “Arka” agency informs, after analyzing the debt situation in Armenia, the experts came to the conclusion that “two-sided or commercial indebtedness does not need to be restructured”. It should be pointed that 2001, June the British minister of development and cooperation Clare Short was for the inclusion of Armenia as well as Azerbaijan, Tajikistan, Moldavia, Georgia and Kirgizstan in the list of the participants of the program on the writing off the debts of poor countries. According to her, “these countries need assistance, otherwise the level of poverty as well as political instability will steadily increase and that will negatively effect the Europe on the whole”. But director of the second board for the countries of Europe of the International currency Fund John Odling-Smi and vice President of the WB for Europe and Central Asia Iohannes Lynn noted that the participation of Armenia in the program would have negative effects on the confidence of the investors in the country. According to them, “the situation in Armenia is not so serious as in other countries and it is able to pay off the debts and does not need their restructuring”. It should be reminded that according to National statistic service data, the state debt of Armenia was $ 970 million December 31, 2001.
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