YEREVAN. – Armenia would not face default even in worst-case scenario of 30-percent devaluation of Armenian dram, Deputy Minister of Finance Vardan Aramyan on Thursday stated in his address during an international forum being held in capital Yerevan.  

European countries are in a mess, and it is very difficult for them to find a way out of the debt crisis, which now has a political implication, Aramyan afterward told Armenian News-NEWS.am.    

And in response to the question whether there are no risks for Armenia’s international reserves, which are primarily foreign securities, Vardan Aramyan said Central Bank of Armenia manages its international assets prudently. “They are following the rating very closely, and I do not think severe measures would be correct in this case,” he added.      

Deputy Minister of Finance also denied the information that Armenia’s international reserves also include Greek g