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Nikolay Pavlov: Armenia Entering Ruble Zone Rumors

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  • Nikolay Pavlov: Armenia Entering Ruble Zone Rumors

    NIKOLAY PAVLOV: ARMENIA ENTERING RUBLE ZONE RUMORS

    PanARMENIAN.Net
    05.02.2009 14:35 GMT+04:00

    /PanARMENIAN.Net/ Russia never leaves friends in trouble, the Russian
    Ambassador to Armenia said, when commenting on Russia's decision to
    accommodate Armenia with a $500 million loan.

    "Nevertheless, the Russian embassy is unaware of Armenia's intention to
    join the ruble zone," Ambassador Nikolay Pavlov told a news conference
    in Yerevan. "There was an idea to expand the ruble area throughout
    the CIS but it oppressed by the global financial crisis."

    For his part, Russia's trade commissioner in Armenia Alexander Zaytsev
    informed that new projects will not be developed yet. "Under the
    global crisis, we should support the existing projects, specifically
    construction of a new power-generating unit and modernization of
    the railways.

    Earlier, head of the RA NA standing committee on economic affairs
    Vardan Ayvazyan said that Armenia can enter the ruble zone in exchange
    for a stabilization loan. He did not rule out that the two countries
    consider not only financial but also economic projects. "Anyway, the
    Armenian citizens will decide whether to join the ruble zone or not,"
    Ayvazyan said.
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