PACE MEMBER-STATES EXPRESS DISSATISFACTION WITH INTERNATIONAL FINANCE ORGANIZATIONS ACTIVITIES

PanARMENIAN.Net - It is the time to reconsider the activities of the international finance institutes that do not make for the improvements of the economic situation in developing and poor countries. This is the statement made at the summer session of the Parliamentary Assembly of the Council of Europe (PACE). The representatives of the PACE members prejudiced the efficiency of the activities of the European Bank for Reconstruction and Development, the International Monetary Fund and the World Bank. It was noted the WB slogan «We dream of the world without poor people» does not correspond to the real activities of that structure and that after the World War II the international finance structures has not assisted the poor countries in developing their economies. Particularly, Armenian delegation member Ashot Galoian noted, the long-term credit programs of finance institutes are controlled badly, has no results and only increase Armenia's external debt.