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Western Donors Laud Economic Growth in Armenia

Armenia's continuing robust economic growth is winning accolades from Western donors. A consensus is building among economic experts that the tiny South Caucasus state is finally emerging from its post-Soviet doldrums.

Officials from the International Monetary Fund (IMF) and other donor organizations now believe that decade-long growth in Armenia has produced a sizable reduction in poverty. "Armenia is on a promising path toward sustained high growth and the alleviation of poverty," Agustin Carstens, the IMF's deputy managing director, said at the end of a mid-July visit to Yerevan. In May, the IMF expressed its approva of Armenia's economic directionl by offering a three-year, $34-million loan agreement.

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Emil Danielyan is a Yerevan-based journalist and political analyst.

Western Donors Laud Economic Growth in Armenia

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