State Duma hasn't confirmed
On February 7 Armenia's Ministry of Finance placed a notification on its website about a 500 million credit extension by the Russian Federation. The information later disappeared.
The Ministry's Spokeswoman Irina Ayvazyan says the site has encountered some technical problems and everything will be recovered in a short while. "Two weeks ago hackers broke into our site. Some information disappeared from the site. The notification will soon be reposted. We didn't even notice it."
Irina Ayvazyan dispelled the rumours that the credit will not arrive in Armenia. "An agreement will be signed at the end of April, and the money will be sent already in May-June."
She also says that no intergovernmental agreement on "allotting a credit to the Republic of Armenia" has been approved by the Russian State Duma. The global economic crisis made Russia review its state budget, that's why the loan issuance is delayed.
Economist Bagrat ASatryan says the racket over the credit arrangement is not accidental.
"We haven't heard from the credit for a month. I think the Russian side has also forgotten about the arrangement as while reviewing the state budget no reference was made about the credit," says Mr. Asatryan.
The economist is convinced that the credit will be given to Armenian-based Russian companies. "The credit isn't a gift. It suggested tough market conditions and was to be paid off by our generations."
Asked whether Armenia would benefit if Russia didn't allot the credit, Mr. Asatryan answered in the affirmative.
Under a disputed agreement signed between the two countries Russia will give Armenia a credit of 500 million dollars to neutralise the aftermaths of the global financial-economic crisis in the country. The loan is given with a term of 15 years.
Economist Bagrat Asatrian foresees inevitable hike in prices from April 1 caused by the rise in gas, water and energy prices.
