Forex Club: Armenia should draw conclusion from Moody's rating November 23, 2011 - 15:24 AMT PanARMENIAN.Net - The speculated decline of economic growth of the partner countries where Armenia exports its products caused Moody's to lower the country’s rating, a Forex Club analyst said. “This makes us focus on the problem of market diversification of Armenian product,” Mikael Verdyan said on November 23, adding that the country should tackle the existing problems to ensure economic growth for the coming year. Moody's rating agency lowered Armenia's issuer default long-term rating in foreign and national currency (Ba2) from "stable" to "negative." The agency’s official website explains the aforesaid by the growing risks for Armenia due to slow economic growth of Russia and Europe where Armenia exports 58% of its products. 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 | Ucom Celebrates Telecommunication Day May 17 commemorates the founding of the International Telecommunication Union on May 17, 1865. Armenian, Azerbaijani heads of parliament meet in Switzerland President of the Armenian parliament Alen Simonyan met with the Speaker of the Azerbaijani Milli Majlis Sahiba Gafarova. Border residents overnight on highway to protest Armenia’s Residents of Kirants continue to express outrage over the government’s decision to cede land to Azerbaijan. Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. |