Tag Archives: economic downturn

ARS Issues Holiday Appeal; Urges Community to Help Those in Need

The Armenian Relief Society of the Western US has issued an appeal to the community this holiday season, urging Armenian-Americans to participate in a charity drive to help the less fortunate.

Armenia Govt. Comes to Aid of Crisis-Hit Construction Sector

YEREVAN (RFE/RL)–In what could be a major boost to one of the largest sectors of Armenia’s economy, the government approved on Thursday at least 20 billion drams ($54 million) in credit guarantees for local construction firms hit hard by the economic crisis. “The state guarantees will enable builders to attract credit resources from commercial banks,”

IMF Signals Additional Funds for Armenia if Needed

YEREVAN–The Deputy Managing Director of the International Monetary Fund, Murilo Portugal, on Saturday said that the IMF would be willing, if the need arises, to provide “additional funds” to Armenia alongside a multi-million dollar loan recently approved by the IMF’s Executive Board, reported Armenpress. The statement, made by Portugal, follows the approval last week of