IMF predicts Armenia's economy will shrink by 1.5% in 2020April 15, 2020 - 16:03 AMT PanARMENIAN.Net - The International Monetary Fund issued its 2020 World Economic Outlook Tuesday, April 15, which says Armenia's economy will shrink by 1.5%. The organization predicts the global economy will shrink by 3% this year and that the world’s economic output will plummet $9 trillion over two years. IMF also said that the economies of Georgia and Azerbaijan will dwindle by 4.0% and 2.2%, respectively. The Asian Devlopment Bank and the World Bank, however, had both predicted that the country's economy will grow in 2020. ADB had said that the economic growth in Armenia is projected to slow from "the unusually high rate" of 7.6% achieved in 2019 to 2.2% in 2020 due to the impact of COVID-19. The World Bank, meanwhile, had forecasted 1.7% GDP growth in the reporting period. Top stories Six total incidents have burned 19 old-growth trees. Friday night 8 trees were torched along the beautiful main entrance. The EU does not intend to conduct military exercises with Armenia, Lead Spokesperson for EU Foreign Affairs and Security Policy Peter Stano says. Hikmet Hajiyev has said that there is no place for USAID operation in Azerbaijan any longer. A telephone conversation between Putin and Pashinyan before the CSTO summit is not planned, Peskov says. Partner news | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. CSTO recognizes Armenia’s sovereign right to withdraw Tasmagambetov has said that if Armenia decides to leave the organization, “it will be the sovereign right of Armenia.” |