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GOVERNMENT'S ACTIONS FOR SHOW: STEPAN ZAKARIAN
FEBRUARY 23. The government actions are only for
show and are accounted for by the forthcoming parliamentary and
presidential elections, Secretary of the People's Party of Armenia
Stepan Zakarian said during a meeting held at the "Azdak" discussion
club.
According to him, indignation is also aroused by a great number of
"artificial parties and unions that are waging a frantic struggle for
lucrative jobs in the government," Zakarian said. He said that the
current year will be rich in surprises, and results of elections may
be unexpected. "The people cannot be underestimated," Zakarian said.
He expressed dissatisfaction with the bill on mass media recently
approved by the government. "It is journalists, not government
officials, that must first of all be defended," Zakarian said.
As regards the verdict returned by the minor court of the Center and
Nork Marash districts in the Poghos Poghossian murder case, Zakarian
called the actions of judicial bodies a disgrace. "The government is
not a place for show-downs," he said.
ARMENIA'S PRESIDENT MET WITH MEMBERS OF ORGANIZING COMMITTEE OF FORUM
"ARMENIA-DIASPORA"
FEBRUARY 23.The President of Armenia Robert
Kocharian today met with the members of the organizing committee of
the forum "Armenia-Diaspora", which will take place on May 27-28 in
Yerevan.
As the press office of Armenia's president informed ARMINFO, during
the meeting the foreign minister of Armenia, the chairman of the
organizing committee Vardan oskanian acquainted the President with
the course of the forum's preparation. In particular, they discussed
the format, the number of participants and the principal themes of
the forthcoming forum. For his part Robert Kocharian charged separate
ministries with concrete missions.
INTERIM ADMINISTRATION OF "CREDIT YEREVAN" BANK INTENDS TO MEET
98% OF DEPOSITORS' DEMANDS
FEBRUARY 23. The interim administration of the "Credit-Yerevan" bank in the framework of the program of financial recovery of the bank during 2 months of the current year met the 50% of the depositors' claims. The chairman of the Central Bank of Armenia Tigran Sargsian stated in the interview to Armenian Public TV. He assured that till the end of 2002 the bank will fulfill the liabilities to the clients at 98%. The rate of deposits does not exceed $20,000. Sargsian noted that after that the bank will begin the repayment of liabilities to 70 largest depositors, the deposits of which exceed over $20,000. In this connection, it is planned to conclude long-term deposit agreements with them on gradual repayment of liabilities. The head of the Central Bank underlined with confidence that the problem of debt liabilities of the Credit-Yerevan bank to the depositors will be fully solved. The implementation of the recovery program is under direct control of the Board of the Central Bank, which renders a decision not only about the program, but also about the case of separate depositors. The inefficient fulfillment of the clients' claims of earlier bankrupted bank was conditioned with improper presentation of reports. For instance, in the case with the "Armenia" bank, it is impossible to give clear answers to the depositors, as the financial accounts have not been kept properly both by the bank and by auditing committees. It should be noted that in late Dec 2001 the managerial powers were transferred to an interim administration, led by Hakop Malkhasian, the head of the documentary control division of the CB's banking control department. The administration is implementing a program of Credit-Bank's financial recovery. It is repaying the liabilities to the bank's depositors: at the first stage it was supposed to meet claims by physical persons having deposits up to $1,000 with an expired period of redemption; at the second stage those by people having deposits worth up to $5,000; and at the third stage - $10,000 and $20,000. It's only a matter of time to meet the depositors' claims, Sargsian said. The liabilities will be met due to working assets, more specifically, due to interests on old loans, investments guaranteed by the bank's new owner and proceeds from GTBs and interbank operations. Sargsian noted that the process of Credit-Bank's recovery was launched timely due to the last year's improvements in the banking legislation.
ARMENIAN PRESIDENT TO PAY OFFICIAL VISITS TO SLOVAKIA, AUSTRIA
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