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A $500mln stabiliziation credit the Russian government has issued to the Central Bank of Armenia is “too small”, Chairman of the “Politeconomy” research center Andranik Tevanyan told NEWS.am on June 15, 2009. “The funds are most likely to be spent on current problems rather than global ones,” he said.

As to the possibility of the Armenian Government's attracting new credits, Tevanyan said that Armenia will most likely apply to other countries and international organizations. However, the country has only a small chance of getting funds.

“The USA no more finances the Millennium Challenge Program in Armenia,” Tevanyan said. He pointed out the simple reason why Armenia will hardly get a new credit — all countries have their own financial problems now.

We would remind, that the Russian credit was transferred to Armenia as one tranche on June 11. The 15-year credit was issued at LIBOR plus 3% under the May 20 agreement signed by Russian and

Armenian Ministers of Finance, Aleksey Kudrin and Tigran Davtyan.

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