Armenia among countries most likely to ask for loan mercy
By Laman Sadigova
Russia’s ruble fell with oil prices, extending its biggest monthly rout since January 2015. The currency declined 1.3 percent to 60.509 against the dollar in Moscow on July 31, according to Bllomberg.
Meanwhile, economists are not excluding the possibility that the depreciation of the ruble will continue.
Armenian, newspaper Johovurd writes that the Armenian Central Bank should be prepared for the worst-case – a sharp and uncontrolled devaluation of the Armenian dram on this backdrop.
Economists warn of a situation whereby the cancellation of Greek debt by the European Union would lead a "domino effect" on regional currencies.
Meanwhile, columnist Hans Berneker in his article "The domino effect" claims that Ukraine will be the next on this list, which will be followed by Armenia and Georgia.
"The information about Ukraine plans to ask the West to reduce the debt has been exaggerated for several days. 4 weeks ago Kiev took a new loan, and now on Ukraine wants to cut 40 percent of its rated capacity,” writes Berneker.
Armenia is experiencing extreme economic difficulties and is on the verge of economic collapse. Moreover, frequent protests and widespread poverty is increasing the risk of the crisis in Armenia.
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