 Vahan Hovhannesyan: artificial maintenance of AMD exchange rate harms local manufacturers March 19, 2010 - 19:05 AMT PanARMENIAN.Net - Artificial maintenance of AMD to USD exchange rate gave no positive results. On the opposite, by artificially maintaining the exchange rate, Armenian government squandered its foreign currency reserves. Now that they're wasted, USD started going up, ARFD parliamentary faction leader Vahan Hovhannesyan stated at parliamentary briefing. Artificial maintenance of exchange rate also harmed local manufacturers, who purchased raw material with high costing drams, selling the ready product abroad at low costing dollars, Vahan Hovhannesyan concluded.   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 |  Latest news The Power of One Dram to benefit Road of Life charity  The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization.Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia.Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty.Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |
