Armenia and the information war

[londontsi]

Re: Armenia and the information war

In the financial trap that America has set up around the world its unfortunately normal for countries to take loans to build themselves up.

People fall in the as you say financial trap is when the loans have been used unwisely.

Armenia also takes loans from Europe and Russia to balance out as diversification.

True, but in the case of Armenia the loans were used to finance an unsustainable consumer boom mainly by supporting the value of the Dram at the expense of the local producer as well the exporter.
This has been highlighted frequently by economics commentators.

The problem is not if they are taking loans the problem is how much and from who.

Not true.
What matters is like any businesses, what is the expected return on the loan.
Then one has to evaluate whether the expected return has been achieved or not.

right now Armenia doesnt have a loan problem.

Not true. They have to be paid back.
When politicians say “Armenia does not have loan problems” what they really mean is, the expectation is it will have to be paid by future generations.

[Mos]

Re: Armenia and the information war

Sarkozy is in Armenia

[Federate]

Re: Armenia and the information war

Relatively recent article about Armenia's debt.
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Armenia’s Increased Debt ‘Under Control’
Armenia - Finance Minister Vache Gabrielian.
30.06.2011
Hovannes Shoghikian

The government insisted on Thursday that Armenia will have no trouble servicing its foreign debt which has more than doubled since 2008 and is on course to total about $3.8 billion this year.

“We have a debt that is considerable for our country and needs to be managed efficiently,” said Finance Minister Vache Gabrielian. “But in terms of stability, it is not controversial.”

Gabrielian spoke to journalists after Prime Minister Tigran Sarkisian’s cabinet approved a debt management strategy for 2012-2014 at a weekly session held in the southeastern town of Yeghegnadzor.

The 15-page document drawn up by the Armenian Ministry of Finance says that the country’s overall public debt will reach $4.3 billion by the end of 2011, up from $3.7 billion in late 2010 and equivalent to 41.3 percent of Gross Domestic Product.

It is projected to total more than $5 billion by 2015. But the debt’s ratio to GDP is to fall to roughly 38 percent.

Gabrielian said that this proportion may well change of because of currency exchange rate fluctuations. “Let’s say that our debt-to-GDP ratio is within a 40-50 percent range,” he added.

The country’s external debt stood at $1.5 billion in late 2008, just before the onset of a global recession that hit the Armenian economy hard.

The Armenian government and Central Bank scrambled to cushion the impact of the crisis with large-scale emergency loans from multilateral institutions like the International Monetary Fund and the World Bank as well as Russia. The anti-crisis borrowing enabled the government to avoid major spending cuts in 2009 when the domestic economy contracted by over 14 percent.

The sharp rise in the debt burden raised concerns about the authorities’ ability to repay it. Hrant Bagratian, a former prime minister and a bitter government critic, claimed in January that they could default on debt repayments in 2013 and 2014.

Finance Ministry officials dismissed those claims. “Armenia is far from facing such risks,” one of Gabrielian’s deputies, Vartan Aramian, told RFE/RL’s Armenian service at the time.

According to the document endorsed by Sarkisian’s cabinet, the government’s overall debt service burden will peak in 2013 at an estimated $225 million.

The government plans to spend about $190 million on external and internal debt servicing this year. This will account for approximately 7 percent of its overall expenditures projected by Armenian’s 2011 state budget.

In a December report, the IMF described the Armenian authorities’ debt repayment capacity as “good.” The fund emphasized in that regard the importance of government plans to cut the budget deficit to 2.5 percent of GDP by the end of 2013.

“The projected debt-to-GDP levels do not appear excessive, and standard stress tests show that Armenia’s public external debt remains sustainable,” said the report.

http://www.azatutyun.am/content/article/24251722.html

[Mos]

Re: Armenia and the information war

French presidents tend to be rather vocal about Armenian Genocide issue.

....

Nicolas Sarkozy gives Turkey till yearend to recognize Genocide

October 6, 2011 - 19:11 AMT
PanARMENIAN.Net - On the sidelines of his visit to Armenia, French President Nicolas Sarkozy visited Tsitsernakaberd Armenian Genocide Memorial, where he addressed the issue of 1915 massacres in Ottoman Empire.
“Collective negation is a more serious problem than an individual one. Unless Turkey follows the suit of other great nations in recognizing the Armenian Genocide before yearend, France will take serious steps, including criminalization of Genocide denial,” Mr. Sarkozy stressed.
President Sarkozy was further taken for a tour in Armenian Genocide Museum. In the book of records, the President left a message: “France does not forget.”

[Serjik]

Re: Armenia and the information war

In the financial trap that America has set up around the world its unfortunately normal for countries to take loans to build themselves up. Armenia also takes loans from Europe and Russia to balance out as diversification. The problem is not if they are taking loans the problem is how much and from who. right now Armenia doesnt have a loan problem.

In that case my question remains unanswered vis a vi the National dept.

[londontsi]

Re: Armenia and the information war

Where did I suggest Armenia's debt increased most during his tenure? I didn't put his name under the third line, but gave an explanation why (thank god) it was not possible for him to have a significant influence on Armenia's debt, if so, we would have been totally xxxxed by now. Is it now clear for you?

In that case my question remains unanswered vis a vi the National dept.

[Tigranakert]

Re: Armenia and the information war

There are many reasons why I dislike LPT.

However I find your assessment hardly objective.

On the one hand you say things were so bad ( and I agree ) that it was not possible to raise loans and on the other hand you are suggesting Armenia’s debt increased most during his tenure.

You almost make him look “good” as far as my question.

Where did I suggest Armenia's debt increased most during his tenure? I didn't put his name under the third line, but gave an explanation why (thank god) it was not possible for him to have a significant influence on Armenia's debt, if so, we would have been totally xxxxed by now. Is it now clear for you?

[londontsi]

Re: Armenia and the information war

During which presidency did the national debt had the highest increase.

Levon Ter-Petrosyan


We were lucky that during Levon the Destructor, it was not possible for him to obtain significant loans from organizations like the World Bank or IMF, as he xxxxed-up Armenia so bad that we wouldn't even receive loans. Anyways, he plundered the Armenian economy and sold all the factories (billions of worth of equipment sold for some million). I know Iranians who got extremely rich because they bought machines from Levon Ter Petrosyan, machines whose worth was more than millions of dollars, for not more than ten thousand dollars. I still get angry this day when I think about it.

There are many reasons why I dislike LPT.

However I find your assessment hardly objective.

On the one hand you say things were so bad ( and I agree ) that it was not possible to raise loans and on the other hand you are suggesting Armenia’s debt increased most during his tenure.

You almost make him look “good” as far as my question.

[Tigranakert]

Re: Armenia and the information war

During which presidency did we suffer the highest emigration.

Levon Ter-Petrosyan

During which presidency did the incumbent use his position to enrich himself

Levon Ter-Petrosyan

During which presidency did the national debt had the highest increase.

We were lucky that during Levon the Destructor, it was not possible for him to obtain significant loans from organizations like the World Bank or IMF, as he xxxxed-up Armenia so bad that we wouldn't even receive loans. Anyways, he plundered the Armenian economy and sold all the factories (billions of worth of equipment sold for some million). I know Iranians who got extremely rich because they bought machines from Levon Ter Petrosyan, machines whose worth was more than millions of dollars, for not more than ten thousand dollars. I still get angry this day when I think about it.

During which presidency did we (Armenia) have the property bubble.

Levon Ter-Petrosyan

It's not even possible to compare a hyena to Levon Ter Petrosyan. He is evil, inside and out. I am amazed at how tolerant and peace loving Armenians are, as in any other country in the world (especially in the West) such a pig would have been either put in prison, or executed. Unfortunately, we haven't learned enough from Europeans!

[londontsi]

Re: Armenia and the information war

This channel in general has some very good videos regarding Pres. Kocharian

http://www.youtube.com/user/2rdam

In this first video, praises are coming mainly from young women.

Is it because he has "sex appeal" or what.

A few questions to get some perspective.

During which presidency did we suffer the highest emigration.
During which presidency did we (Armenia) have the property bubble.
During which presidency did the incumbent use his position to enrich himself
During which presidency did the national debt had the highest increase.

What type Economic activity gave the people the feel good factor to be followed by a hangover.
Many commentators have commented it was the property bubble and an unbalanced economy which made the following recession one of the worse in the world.