Saturday, 11 October 2008
On October 11, 2008, RA Prime Minister Tigran Sargsyan met with World Bank Dutch Group Executive Director Herman Wijfels. Mr. Wijfels is due to hand over this post to Rood Trefers who was present during the meeting. The agenda featured discussion of the global financial crisis, the imminent crisis in Russia and its implications for Armenia. The parties also discussed the losses caused to Armenia's economy by the Georgia-South Ossetia conflict. Herman Wijfels stated that notwithstanding the rising global turmoil and its possible adverse effects, being a member of the World Bank's European and Central Asian Group, Armenia seems to suffer less and, as estimated by experts from the World Bank and the International Monetary Fund, our country will display the highest growth in 2009 as compared to other members of this group. Tigran Sargsyan asked about the World Bank's role and suggestions to such countries as are doomed to face problems as a result of the global financial crisis. Mr. Wijfels said the Bank is going to commit itself to those countries where the private sector will show signs of decline.
With reference to development in Georgia, Tigran Sargsyan underscored that he is against making unilateral comments on the situation as the true pattern may come distorted due to the neglect of the interests of all countries in the region. He reiterated Armenia's readiness to participate in any regional program.
