Guaranteed investment in Armenia
Want to invest a little or a lot in financing Armenian exports? It should pay a tidy return on your investment, and your investment has guarantees from the US government, so you won't lose your shirt. Not bad? Read more.
posted by Raffi K. at 8:07 AM
3 Comments:
I am doubting the wisdom of issuing debt to finance exporters when dram keeps rising against the other currencies. One explanation would be that the proceeds go into ventures that are not entirely export oriented, or maybe it's a wishful thinking.
Anyway, what's the coupon rate? they fail to mention it in the press release.
This type of news from Armenia would typically get me excited.. but i would have to agree with Nazarian. What is going on to the Dram is really damaging to Armenia's future and dangerous to its existence. No country can sustain itself or even attempt to prosper by being heavily dependent on imports. In the last year alone, due to dram's rapid appreciation, Armenia's exports have fallen about 25% and imports grown about 35% according to numbers published. This is truly sad for everyone living and dealing with Armenia. The few people benefiting are those oligarchs who have monopoly on imports who i don't doubt control the central bank from letting it do it's job. I've already heard several buyers from Diaspora pull back from buying properties in Armenia due to rapid increase in prices, and our internet company which outsourcers work to Armenia is now looking elsewhere due to artificial lack of competitive pricing in Armenia. I’d like to urge everyone living in Armenia to raise this issue with authorities.. especially the central bank and demand that CBA chairman Tigran Sargsyan resign!
This is a great product that has the possibility of advancing the Armenian financial services sector, getting a certain sector of Diasporans and non-Diasporans who otherwise wouldn't invest in real estate or a business in Armenia to pump money into the financial sector and show that Armenia is a cut above its regional neighbors in finance. We can talk about the pros and cons of the strengthening of the dram all day but that doesn't mean that this project is lending to that issue or even that it should be used to highlight that issue. Let's give credit where credit is due. Cafesjian is doing good. Everyone should do something and stop crying about the sky falling in on Armenia.
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