OSCE-supported meeting in Yerevan provides for exchange of experience in tackling challenges of the global crisis

YEREVAN, 6 March 2009 - An OSCE-supported conference focusing on Armenian and Russian perspectives on the global financial crisis took place in Yerevan today.

The meeting, organized by the Armenian Russian (Slavonic) University of Armenia and the Russian Academy of Science Institute of Economics with the support of the OSCE Office in Yerevan, looked at how the effects of the crisis can be reduced.

The discussion paid particular attention to how the crisis affects Armenia following the decision on Tuesday by the country's Central Bank to return to a floating exchange regime.

The Head of the OSCE Office in Yerevan, Ambassador Sergey Kapinos, delivered a speech discussing the challenges facing Armenia because of the world financial crisis.

"In a crisis situation, it is important to ensure competitiveness and to support to small and medium-sized business. Such measures in combination with effective economic policies may be decisive in overcoming the negative impacts of the crisis," he said.

Prime Minister Tigran Sargsyan underlined the need to view the crisis from various perspectives, including as an opportunity.

Several research papers were presented during the meeting.