Fitch: Proposed IMF Programme Would Support Armenia’s Ratings

Fitch Ratings-London- 5 March 2009: Fitch Ratings says today that a proposed IMF loan facility for USD540m would support the adjustment of Armenia’s economy in the face of a global and regional economic shock, and support the outlook for its sovereign ratings. Armenia’s foreign and local currency Issuer Default Ratings (IDRs) are ‘BB’ with Stable Outlooks. The Country Ceiling is ‘BB+’ and the country’s Short-term rating is ‘B’.

Read More

Azerbaijani-Armenian Gay Romance Novel Fuels Controversy

Scandals and discussions have erupted in Azerbaijan over the bestselling new novel – “Artush and Zaur.” This book by Azeri writer Alekper Aliyev (who has been in Yerevan on at least two occasions that I can recall) has written a novel about the romance between two young men — one Armenian, one Azerbaijani. For a highly conservative society like Azerbaijan (and Armenia for that matter), the publication of this book comes as a real shock….

Read More

Gagik Beglaryan appointed Yerevan's mayor

Gagik Beglaryan, Yerevan’s central Kentron district’s mayor, has been appointed as Yerevan’s mayor by president Serzh Sargsyan. Beglaryan is the government official, who said only 10 days ago that he and his kin are “used to fighting for themselves”, referring to an incident when his bodyguards severly beet a shoolchild for getting into an argument with Beglaryan’s son.

Read More