Tuesday, July 26 2011 17:02
Eurasian Development Bank: In the post-crisis period Armenia demonstrated fast restoration of the capital flows
ArmInfo. In the post-crisis period Armenia demonstrated fast restoration of the capital flows, the report "CIS Macromonitor" prepared by specialists of Eurasian Development Bank says. It also says that along with Armenia fast restoration of the capital flows was fixed in Belarus, Kyrgyzia, Tajikistan and Ukraine.
The external debt of Armenia and Belarus grew - by 32.2% and 29.2% respectively.
The size of the portfolio investments in Armenia remains one of the lowest in the CIS. The negative position was fixed in Armenia by the net inflow of the portfolio investments. Kazakhstan was the leader by the inflow of the portfolio investments in 2010 -6% of GDP. But by the net inflow of direct investments Armenia occupies one of the leading positions - 6% of GDP, then comes Kyrgyzia - 5%, Ukraine - 4% and Moldova - 4%.
The report also says that the openness level of the country is one of the key factors for the flow of the long-term as well as short-term capital. It supposes availability of the economic and institutional barriers on the way of the capital. The most liberal regime regarding the flows of the capital has been functioning in Russia, Kazakhstan, Armenia and Tajikistan, and the most open are Turkmenistan and Tajikistan. But because of the crisis, the experts say about certain changing of the monetary policy in the CIS countries. Thus, the level of openness to the capitals in Armenia as well as the level of stability of currency was preserved at the previous level, but the monetary independence of the country has changed much.
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