Yerevan /Mediamax/. Session of the working group on banking and financial issues of Black Sea Economic Cooperation Organization (BSEC) was launched in Yerevan today.

Mediamax reports that the Deputy Chairman of the Central Bank of Armenia Vache Gabrielyan stated at the opening of the session that participants exchange experience and knowledge, which is very important in conditions of the global financial-economic crisis.

According to him, the problems, which BSEC participant-states face as a result of the global crisis, are “very similar”. At that, when comparing the situation in Armenia with other countries of CIS, Vache Gabrielyan stressed that almost in all countries economic decline is observed, however the financial system of Armenia has far fewer problems, as compared to the neighboring countries.

Vache Gabrielyan noted that suggestions and remarks, made at the session of the working group, will be considered next week in Yerevan during the meeting of the Ministers of Finance of BSEC participant-states.

The session is attended by representatives of Russia, Bulgaria, Greece, Moldova, Romania, Serbia, Georgia and Ukraine, the World Bank and the International Monetary Fund.