Armenia’s Economic Model Similar to Latin American Monopolies

YEREVAN — The Head of the OSCE Office in Yerevan issued a statement, clarifying his earlier comments about the Armenian economy, which appear to have been misinterpreted by the media.
In the statement issued on Saturday Ambassador Sergey Kapinos said that “the economic model that developed in Armenia in the 1990s has much in common with the monopolistic system seen in many parts of Latin America. I am in favour of evolutionary development. Evolution in society – this is reform. Reform, if seen as a mere cosmetic procedure, will only serve to hide problems and compound them. I believe that reforms in Armenia are possible and can be successful. But the question of their necessity and desirability, as well as their eventual form and scale, is a matter for the Armenian people to decide. International organizations can only give advice and assess, and provide support.”
The statements by Ambassador Sergey Kapinos had been made at a roundtable discussion on “The Business Environment in Armenia: a Glance from the Outside” on 11 March 2011.