Tag Archives: Armenia

EEU reschedules meeting due to Armenia-Azerbaijan fight in N-K

APRIL 6 2016 (The Conway Bulletin) – The Eurasian Economic Union moved a meeting of its PMs scheduled for April 8 in Yerevan to Moscow because of fighting between Armenia-backed fighters and Azerbaijani forces over the disputed region of Nagorno-Karabakh. Before the meeting was moved, Kazakh PM Karim Massimov had cancelled his trip to Armenia’s capital. The Moscow meeting will now be held on April 13.

ENDS

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(News report from Issue No. 275, published on April 8 2016)

 

Worst fighting erupts between Armenia and Azerbaijan over N-K

APRIL 2 2016 (The Conway Bulletin) – Serious fighting broke out between Azerbaijani forces and Armenian backed forces around the disputed region of Nagorno-Karabakh, smashing a tense ceasefire that had been in place for 22 years.

Casualty numbers were difficult to gauge but at least several dozen people were killed in the fighting, mainly soldiers. Video footage showed both sides firing rockets and pounding well dug-in positions with heavy artillery, as well as deploying tanks and helicopters.

Alarmed that the fighting could escalate, world leaders urged both sides to sue for peace.

From Washington, John Kerry, US secretary of state, said: “The United States condemns in the strongest terms the large-scale ceasefire violations along the Nagorno-Karabakh Line of Contact, which have resulted in a number of reported casualties, including civilians.”

Russian President Vladimir Putin dispatched Dmitri Medevedev to talk to both Armenian President Serzh Sargsyan in Yerevan and Azerbaijani President Ilham Aliyev in Baku.

As the Bulletin went to press a two-day-old ceasefire held, although there were reports of sporadic fighting.

When the Soviet Union fractured in the late 1980s and early 1990s, localised ethnic tension started to explode into pockets of fighting. Nagorno- Karabakh, a region that belonged to Azerbaijan was one of these region. It was populated mainly by ethnic Armenians who wanted to break away.

After years of fighting that killed 30,000 people the UN negotiated a ceasefire in 1994 that left Armenia- backed rebels running the region.

Thomas de Waal, one of the foremost commentators on the South Caucasus, wrote in the New York Times that the conflict could spread.

“A new all-out Nagorno-Karabakh conflict is the stuff of nightmares. Given the sophisticated weaponry both sides now possess, tens of thousands of young men would most likely lose their lives,” he said.

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(News report from Issue No. 275, published on April 8 2016)

 

Armenian CBank cuts rates

MARCH 30 2016 (The Conway Bulletin) – The Armenian Central Bank said it cut interest rates by a quarter of a percentage point to 8.25%, just over a month after the previous rate cut. The Bank said this is in line with the policy of easing the cost of borrowing and other monetary instruments. Economic activity in the country is shrinking and the Central Bank wants to boost it gradually by cutting rates.

ENDS

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(News report from Issue No. 274, published on April 1 2016)

 

Kerry wants Azerbaijan-Armenia conflict resolution

MARCH 30 2016 (The Conway Bulletin) – US secretary of state John Kerry said he wanted to see “an ultimate resolution” on the conflict between Azerbaijan and Armenia over the disputed region of Nagorno-Karabakh. Mr Kerry was meeting with Azerbaijan’s President Ilham Aliyev in Washington when he made the comments. Just days earlier, Azerbaijan said two of its soldiers were killed in clashes with the Armenian army.

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(News report from Issue No. 274, published on April 1 2016)

 

Russia will cut gas price, says Armenian PM

MARCH 29 2016 (The Conway Bulletin) – Armenian PM Hovik Abrahamyan said that Russia will reduce gas prices and that a final decision will be taken when PM Dmitri Medvedev visits Yerevan next week. The Armenian newspaper Haykakan Zhamanak reported that the discount could be 12%. The Hrapak newspaper also reported that the pricing could be switched to roubles.

ENDS

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(News report from Issue No. 274, published on April 1 2016)

 

Moody downgrades Armenia’s bonds

MARCH 22 2016 (The Conway Bulletin) – International ratings agency Moody’s downgraded Armenia’s government bonds to B1 from Ba3, as the economic crisis continues to bite. Moody’s said Armenia continues to be vulnerable to external factors, such as “declining remittances from Russia that have not yet bottomed out,” the agency said in a press statement. Moody’s also said the downgrade is linked to the worsening debt/GDP ratio.

ENDS

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(News report from Issue No. 273, published on March 25 2016)

 

Children in Armenia stunted, UN WFP reports

MARCH 23 2016 (The Conway Bulletin) – A joint report from the UN’s World Food Programme and Armenia’s Statistics Committee said that around 19% of Armenian children under the age of five are stunted, a consequence of widespread malnourishment in the country. The report also noted that around 15% of the surveyed pool is overweight. This is commonly known as a “double malnutrition burden” which can become a public health concern if it spreads across the population. The report concluded that the Armenian government needs to take action to invert this negative trend.

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(News report from Issue No. 273, published on March 25 2016)

 

Armenia reforms stock exchange

MARCH 21 2016 (The Conway Bulletin) – The Armenian government wants to reform its stock exchange to include currencies and other forms of financial trade. In an interview with Reuters, the director of NASDAQ OMX, Konstantin Saroyan, said: “We are concerned that there are no currency operations on the stock exchange and we are trying to change our business model.” Mr Saroyan also said demand for US dollars has declined due to the economic downturn.

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(News report from Issue No. 273, published on March 25 2016)

 

Armenia’s power production rises

MARCH 22 2016 (The Conway Bulletin) – Armenia’s electricity production grew by almost 9% in February compared to the same period last year, pushed up again by the proliferation of small hydropower stations. For the first two months of 2016, electricity generation grew by 7% to 1.3b kWh. The Metsamor nuclear power plant accounted for 42% of the total power generation in the country. Power generation has become big business in the South Caucasus, with countries trying to meet a jump in demand.

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(News report from Issue No. 273, published on March 25 2016)

 

Armenia receives Russian PM

MARCH 16 2016 (The Conway Bulletin) – Armenian PM Hovik Abrahamyan hinted that a final decision on the long-running negotiations with Russia over gas prices would be made when Russian PM Dmitri Medvedev visits Yerevan next month. Armenia imports all its gas from Russia, one of its most important allies, and has asked for a cut in price to help it cope with an economic downturn. Russia has agreed a cut but not as drastic as Armenia had wanted.

ENDS

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(News report from Issue No. 272, published on March 18 2016)