Armenia Working Toward Receiving International Economic Rating

YEREVAN (Noyan Tapan)–Armenia needs to acquire a relevant rating so as be involved in international economic integration and banking structures–chief of the financial operations department of Armenia’s Central Bank Arman Vardanian said on Monday. Vardanian reported that steps toward that direction have been taken.

Vardanian explained that Armenia’s rating which is determined by various indices–showing the degree of economic and political risk of the given country–is almost equal to that of Spain.

The rating which is awarded to a country–bank–financial group or enterprise is a very important condition for influx of investment into the country’s economy. Its absence is tantamount to the absence of the state on an international economic map.

Of CIS-member countries only Russia–Kazakhstan and Moldova have thusfar received such ratings.

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