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Armenia Says It Is No Longer Poor

Never mind all those labor migrants and the protests over transportation-fare hikes. Armenia has gone middle-class, Finance Minister David Sarkisian claims.

This was the news that the country’s economy stewards were excited to share last week, not long after Armenia launched its first Eurobond. But for anyone looking to verify the government’s claims, good luck in defining poverty.

Armenian officials specified that they were referring to definitions by international aid groups, which have an entire lexicon of kinder synonyms for poverty, such as “transitional,” “developing” and “less-developed,” and a list of acronyms (GDPs, GNIs, CPIs, HDIs) to measure development.

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Armenia Says It Is No Longer Poor

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