Armenia, London, news, reviews, personal... the way I see and feel it
Panic, uncertainty and rising prices - that's a mood and atmosphere in Yerevan today, and perhaps throughout the country. A1+ provided a very telling example: a customer picking up a bottle of oil at one of central Yerevan supermarkets with the labelled price of 400 dram, reaching a cashier only to find out that it now costs 600 dram. And many similar examples. Reports of people buying lots of products and foreign currency (US dollars). Some shops shut down due to pricing uncertainty.
Looks like the Central bank ran out of dollars to sell. I've been critical of of their policies since 2004 but the last 1 month was the biggest screw up. The babboons at CB now have a major FUBAR on their hands.It's gonna be 'back to the dollar' situation now. It may take a decade until the credibility of Dram is recovered.
:)))))RIP indeed. I was telling collegues earlier at work - it's not the Dram Memorial - it's the dram Tombstone :D
Vartan Oskanian and the Civilitas Foundation just recently released a statement about the conditions of Armenia's economy and what he believes the government must do now.Article:http://armenianamerica.wordpress.com/2009/03/03/the-civilitas-foundation-seeking-solution-within/
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