IMF: open borders can whip up Armenian economySeptember 9, 2009 - 13:40 AMT PanARMENIAN.Net - The International Monetary Fund hopes that open borders will be a perfect stimulus for Armenia's economy. "Armenia is still a transition economy with ongoing market processes," Ms. Nienke Oomes, IMF Resident Representative in Armenia, told reporters in Yerevan today. "There is a large number of market mechanisms but the country is not competitive enough," she said. Armenia's competitiveness index has not changed. The country is 97th in the list of 133 countries of the world. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia recalls Belarus envoy for consultations Armenian Ambassador to Belarus has been called to Yerevan for consultations, a spokesperson for the Foreign Ministry reveals. Armenia denies Azerbaijan's ceasefire accusations The Armenian Defense Ministry has denied Azerbaijan's accusations of violating the ceasefire. Armenia will leave Russian-led military bloc, says Pashinyan Armenia will leave the Russian-led Collective Security Organization, Prime Minister Nikol Pashinyan said, without giving any dates. EU encourages Armenia to prioritize strategic projects The EU has encouraged Armenia to prioritize strategic projects, according to a statement from the country’s Foreign Ministry. |