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The Unbearable Perfection Of Life

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  • The Unbearable Perfection Of Life

    THE UNBEARABLE PERFECTION OF LIFE
    James Hakobyan

    Lragir.am
    31 Aug 06

    The hit of the anniversary of independence is the depreciation of
    the dollar, or according to official Yerevan, revaluation of the dram.

    The wording does not interest the society, like with regard to
    independence. Most citizens of Armenia living independently over
    the past 15 years are no longer interested whether the country they
    live in is characterized as independent or not. It does not interest
    them because for 15 years independence remained at the level of
    wording instead of turning into a way of life. And by describing
    the depreciation of the dollar as the depreciation of the dram the
    government was unable to settle the problem. In other words, it was
    unable to dispel the doubts that a big game is hiding behind these
    wordings, and the society was removed from the field even before the
    game starts.

    And this prevents from getting the complete picture of the situation
    because on the one hand you are in the field, on the other hand,
    however, you can only see what the TV set of the checkroom shows.

    Meanwhile the TV shows what a skillful economic and monetary policy
    the country conducts, harmonizing the revaluation of the Armenian
    economy and the national currency. People suffering from this harmony
    naturally do not believe the TV set and have already stopped believing
    that happiness is in harmony.

    They do not believe on seeing another example of harmony between the
    international financial organizations and the government of Armenia,
    namely the Central Bank. Over the upcoming fortnight the delegation
    of the IMF will be visiting Armenia. No doubt it will again utter
    words of praise for the monetary policy of the Central Bank. And
    the whole paradox is that these words are based on the international
    monetary tendencies. In other words, when they approve the policy of
    the Central Bank, they proceed from the situation in the developed
    countries of the world, i.e. curbing of inflation, a fluctuating
    exchange rate. Presently this is the accent of the monetary policy
    conducted in developed countries. And it appears that the praise of
    the international financial organizations for the Central Bank of
    Armenia is quite justified. In addition, these organizations praise
    the Central Bank not only in public speeches but also in internal
    reports and recommendations, which are extended to the Central Bank
    in the form of analyses.

    It appears that the international organizations approve a policy
    which harms almost half, even more than half of the country's
    population. There is a nuance, however, which the international
    organizations diplomatically avoid to state publicly and apply only
    in private contact with the Central Bank. The problem is that by
    emphasizing the correct monetary policy of the Central Bank in the
    documents of these closed contacts and praising the attitude of the
    organization with regard to the exchange rate, the international
    financial organizations, particularly the IMF point to an underlying
    circumstance - the absence of a strategy of development of the
    country. They say this is the reason why the policy of the Central
    Bank becomes target of strictures.

    In other words, when there is no strategy, it is natural that separate
    steps will not produce any results, since results should be expected
    from complex steps. It is impossible to cut the leg of a man and take
    it forward waiting that the head will come forward. The head will
    howl of pain but will not walk forward because an organism moves
    together. The problem is that there is no movement. In this case
    the Central Bank does what it should in accordance with the rules,
    in other words, in accordance with the theory. And this action is
    approved by the international financial organization because it fully
    complies with their idea about the theory.

    It appears that we deal with an almost ideal state: there is a theory
    and there is an action that complies with the theory. And strange
    though it may seem, this ideal state leads to an undesirable result for
    the public. No doubt, this result is determined by objective factors
    as a result of which the dram really revaluates and the dollar really
    depreciates, and interference with this process may lead to undesirable
    consequences for the economy and the financial market. The problem is
    that ideal actions are good for an ideal environment only. And the
    atmosphere in Armenia is far from being ideal and gets even farther
    by a daily decrease by one or two drams.

    It is clear that "nature" is to blame for natural decrease.

    In this case who is accountable for the artificial decrease? Who
    imposes an ideal reaction on the reality, which is far from the ideal,
    creating an illusion of harmony to the image of the mixed action?
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