17.02.2009 | 
Student, Policy, Education
"LIGHT OF THE TUNNEL IS VISIBLE"
"LIGHT OF THE TUNNEL IS VISIBLE"
"Danger, threatening to the economy worldwide, will leave deeper traces, than it may seem", - said Age Bakker.

On the 17th of February International Monetary Fund Executive director Age Bakker and RA Deputy Mnisiter of Economics Vardan Aramyan held a meeting with YSU professorial staff and studentship in YSU Academic Council Sessions Hall.

IMF Executive director held a lecture on the World financial crisis and the current situation in the region, resulted by it.

Age Bakker is IMF Executive director beginning with 2007, representing the interests of Armenia, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Georgia, Israel, Macedonia, Moldova, Montenegro, Netherlands, Romania and Ukraine from the Netherlands voting group within the IMF.

Mr. Bakker is the author of about 10 monographs, numerous articles on monetary and financial issues. His latest book Management of the Reserves of the Central Bank was published in 2007 in England owing to the initiative of Edward Elgar. 

This is Mr. Bakkers fifth visit to Armenia. His first visit was in 1995 and the last one in November of 2008. He is here today, as he says he is the Ambassador of Armenia to IMF. 

It is not a secret that the current crisis started in summer of 2007 in the developed industrial countries. The general mission of our fund is to support the developing countries, as Armenia is, via credits and advices in the area of financial spheres of these countries, - said Mr. Bakker.

Mr. Bakker is sure it is not a secret such countries as the RA is will face problems and obstacles. Small countries must go on with the current changes: to avoid the crisis the financial-crediting market nust become more transparent as well as strucrural reforms are required.

He also added that IMF has presented a project on World financial crisis prevention to the RA Government, which is being discussed currently. 
We can see crisis in Armenia s in some way: here the transfers from abroad deal with the situation and decrease of crediting and investments. 

Mr. Bakker, anyway, is optimistic: Though 2009 is going to be a hard year for the humanity light of the tunnel is visible.

In the end of the meeting YSU Rector Aram Simonyan expressed his gratitude to our honorable guest for the detailed lecture and presented him the album of outstanding Armenian artist Martiros Saryan.

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