Yerevan /Mediamax/. “Financial-Banking College” Foundation held another event within the framework of “Crisis as Opportunity” project today.

Mediamax reports that within the framework of the given project, Head of IMF representative office in Armenia Ninke Omes delivered a lecture on “Economic Crisis in Armenia: Reasons, Consequences, Ways to Overcome” today.

According to Ninke Omes, to keep the Armenian economy from the financial crisis, the country authorities should render assistance to the financial and monetary-credit sector, strengthen control over the financial sector and continue structural reforms. At that, she stressed that commercial banks should improve the policy of risk assessment and management.

“Crisis as Opportunity” project was launched on June 5 by presentation of “Young Specialists” program. Information partners of the project are Mediamax Agency and Banks.am portal.

According to IMF, opening of Armenian-Turkish border will have a positive influence on Armenian economy

Economic decline in Armenia following the results of the year will make 10-15%.

Mediamax reports that such a forecast was provided by the Head of IMF Yerevan Office in Armenia Ninke Omes today.

According to her, previously IMF forecasted 9.5% decline, however after consultations with the Central Bank and the government of Armenia, IMF changed its forecast. According to the Fund’s assessment, inflation in Armenia following the results of the year will make 3%.

Ninke Omes noted that opening of the Armenian-Turkish border will have a positive influence on Armenian economy. According to her, in a short-term prospect, certain Armenian goods, in particular, agricultural products, probably, will not manage to compete with Turkish ones. However in medium-term prospect, unblocking of the border will give a positive impetus to development of competition and stimulation of the Armenian economy, Ninke Omes stated.

According to her, IMF believes that opening of the border will lead to economic growth, reduction of inflation, reduction in cost of import and transport expenses.