Guillermo Tolosa advises Armenia to capitalize assets of Diaspora

PanARMENIAN.Net - Guillermo Tolosa, IMF Resident Representative in Armenia, said that there are problems in Armenia, which existed before the crisis, appeared during it and are still in place in the post-crisis period.

Though Armenia is located far from global markets, such as the U.S., China and European zone and does not possess rich natural resources, it has another strategic resource and unused potential – Diaspora.

“Armenia should capitalize Diaspora’s assets and use them for the sake of the country’s development. It is an important factor, which unites the East with the West,” Tolosa said on March 11 in his speech during a roundtable organized in Yerevan at the initiative of Alternative center.

The roundtable dedicated to Armenia’s economy brought together foreign experts, representatives of international financial structures, as well as local entrepreneurs.

Professor of Maryland University College Mary Ann Spilman said for her part that the Armenian Diaspora is rather interested in investing in Armenia, however, it faces the problem of unpredictability of the business environment like other foreign investors.

“This is related to the existing inefficient management system of Armenia,” she said.