International experts assess Armenian CB new policy

PanARMENIAN.Net - A number of international structures spoke out in support of dram floating rate.



According to IMF assessments, the Armenian national currency overestimation made some 17-20 percent, what was pregnant with deplorable consequences and could result in hyperinflation.



Experts, however, mention that dram's high rate affected the republic's economic growth.



The World Bank said floating rate will strengthen Armenia's competitiveness at international markets. "Given reasonable macroeconomic management, small state debt and secure bank system, Armenia is capable to develop a strong defense line under the global financial crisis," the WB statement said.



Experts say the dram-to-dollar rate will make 370/1.



At that, the IMF forecasts a 1.5 percent GDP decrease.