‘Millennium Challenge’ Programs Can be Financed by Russia, Says Central Bank Chief

YEREVAN (ArmRadio)–Armenia’s close relations with Russia will enable it to tackle several challenges, including the temporary suspension of funding tied to the Millennium Challenge project, said Armenia’s Central Bank Chief Tigran Sargsyan.
“Of course this project helps the country a lot. However, we are relying on our own economic resources. Armenia will develop through market reforms. The inidcators that we have and we will continue to have will allow our American colleagues to revisit their decision and resume the program,” said Sargsyan in an interview with the Moscow-based Rosiak Gazeta.
“During the last three years, the pace by which our relations have grown with Russia indicate that Armenia’s finance and economic challenges will be met,” added Sargsyan.
The Central Bank chief said that in the past Armenia’s economic relations with Russia lagged two to three years behind the political relations. However, he added, in the past three years Armenia has filled those gaps.
“Developing new economic sectors are priorities for the governmen’s of Armenia and Russia, especially in the technology and science sphere. This will assist in the future integration of our economies,” added Sargsyan.

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