Armenia: As Ruble Tanks, Yerevan Asks Santa for Economic Boost

With Armenia on the verge of joining the Moscow-led Customs Union as a full member, the value of Russia’s ruble continues to slip as Western sanctions take hold. The devaluation of the ruble is rippling within the Armenian economy, causing inflation and sharply raising food prices, making it tougher for Armenia’s large poor population. (Photo: Anahit Hayrapetyan)

Santa Claus supposedly received a desperate letter from a woman in Armenia this year – a plea for financial help after enduring a year of economic hardship. “I don’t know how to live now,” the woman, a character in a TV ad for the Armenian lottery, complained.
 

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Marianna Grigoryan is a freelance reporter based in Yerevan and editor of MediaLab.am.

Armenia: As Ruble Tanks, Yerevan Asks Santa for Economic Boost

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