Prime Minister of Russia Mikhail Kasyanov (center) came to Yerevan this week, then went back to his country with a big chunk of Armenian industry as payback for outstanding loans. Five Armenian enterprises including the Hrazdan power plant, an electronic plant and three research institutes were transferred to Russian ownership to clear Armenian debt totaling $98 million. Minister of Industry, Science and Technology of Russia Ilya Klebanov joined the Prime Minister of Armenia Andranik Markaryan in a champagne toast with Kasyanov to mark the occasion.
big chunk of Armenian industry as payback for outstanding lo
Started by
MosJan
, Nov 08 2002 10:21 AM
10 replies to this topic
#1
MosJan
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Posted 08 November 2002 - 10:21 AM
#2
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Posted 09 November 2002 - 12:56 AM
MosJan!
GREAT since half of the industry in Armenia was privatized by other nations half is going to belong to Russians. Lav President Unenk Hayastanum, Turkeri Achk@ luyc... Like it says on the wall of Yerevan Airport - VERGIN GNACOG@ TOG LUYCE HANGCNI!
GREAT since half of the industry in Armenia was privatized by other nations half is going to belong to Russians. Lav President Unenk Hayastanum, Turkeri Achk@ luyc... Like it says on the wall of Yerevan Airport - VERGIN GNACOG@ TOG LUYCE HANGCNI!
#3
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Posted 08 November 2002 - 01:16 PM
ehhh 56 jan inch asem 43 tary mardik tarin 12 amis ashxateluts heto / iysor amis@ $6 todhak en stanmum / isk axper trerq@ yerevani qand u qarap porotsnerum Hummer en qshum / de jeep@ arden dzerq chi talsi poser@ metsatsel en ~~~~
#4
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Posted 12 November 2002 - 04:29 PM
hahaha...i supplose Jaguars and Lamborgini is out of question.
bayc ete vercnenk karavarutyunnel shat ban chi karog anel.. Inch Ecanomia Hayastan@ uni>? vochinch, voch humnk voch artadrank, null natural resources. And to tell the truth what is Armenia compared to the world? So starting from Cognac to Hydro electricity everything is sold out.
Wishful thinking – If Armenia had billion gallons of Oil then US would have recognized Armenian Genocide, bought all our oil and then everything would have been much much better.
bayc ete vercnenk karavarutyunnel shat ban chi karog anel.. Inch Ecanomia Hayastan@ uni>? vochinch, voch humnk voch artadrank, null natural resources. And to tell the truth what is Armenia compared to the world? So starting from Cognac to Hydro electricity everything is sold out.
Wishful thinking – If Armenia had billion gallons of Oil then US would have recognized Armenian Genocide, bought all our oil and then everything would have been much much better.
#5
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Posted 11 December 2002 - 12:08 AM
Armenian paper says property-for-debts guarantees president's grip on power
December 7, 2002 9:38am
12/07/2002
Text of Ayk Gevorkyan report by Armenian newspaper Aykakan Zhamanak on 7 December entitled "Towards the lessons of history"
We could say that the year 2002 has been marked in Armenia by the concept of Property-for-Debts. And this is natural. This was a deal without precedent - one country gives away its property to another country instead of its debts, and this property is one third of this country's energy producing capacity. The deal is not only surprising, it could hardly be described as logical. On the one hand Armenia speaks about 10 per-cent annual economic growth, while on the other adopting a working style typical of a country going bankrupt.
It is interesting that this deal has not aroused as much public indignation as, for example, the sale of the [Yerevan] Brandy Factory or the Hotel Armenia, even though the sale of these enterprises could be considered child's play compared to the Razdan Power Plant [RPP]. It is normal that as a result of the exclusion of the public from discussions of the Property-for-Debt formula, to this day society does not realize what had really happened.
The document, which was signed by [Russian Minister of Science, Industry and Technology] Ilya Klebanov and [Armenian Security Council chief and Defence Minister] Serzh Sarkisyan and later by the prime ministers of Russia and Armenia, was kept secret till the beginning of this week, when the agreement was presented to the National Assembly for ratification. Blind Russophilia and pathetic affection of the executive power did not allow the parliament to examine this document properly. But even if the Property-for-Debt deal is examined superficially, it becomes clear that it mainly resolves political problems. Particularly, by giving away the Razdan Power Plant to the Russians we have created all the preconditions for the accumulation of new debts to Russia and deepening our dependence on Russia. Robert Kocharyan and Serzh Sarkisyan are certain to win in this situation, as only Russia can guarantee their long-term survival in power.
Nevertheless, the paper contained very interesting points. Let us take some features of the handover of the Razdan Power Plant to Russia as an example. According to that agreement, the RPP has been estimated at 31m dollars without its fifth bloc. Let us remember this figure and go on. According to the 7th clause of the contract, Hayenergo will provide 100 per cent payment for electric power bought from this plant, which has already become Russian. But the fact is that in the last four-five years Hayenegro has never paid 100 per cent for electric power produced by the RPP - the payment was only 70-80 per cent. This led to a debt of 34bn drams or 70m dollars. This means that when Armenia was the owner of the RPP full payment could be ignored, but when Russia becomes the owner, 100 per cent payment should be provided. And if the level of payment remains 70-80 per cent, in four-five years the debt to the RPP will be 70m dollars. In this case this will be an inter-state debt, as Armenia will accumulate debts to Russia. And naturally this debt will be repaid according to the tested scheme, for example handover of the Sevan-Razdan cascade or Lake Sevan to the Russians. Our authorities explain the expediency of handing the RPP to the Russians by the fact that the plant has been used up and needs massive investments. But this may constitute a basis only to a sixth-form pupil. It becomes clear from the above figures that in case of 100 per cent payment, the RPP itself may settle the repair problems. Even in case of 70 per cent payment, the fifth bloc might be finished.
In brief, it becomes clear that the handing of the RPP to the Russians is only a balloon which may burst due to a simple arithmetic. But what is the real reason behind this? The real reason is the mutual advantage of the deal. Indeed, the deal is very advantageous for Robert Kocharyan and Serzh Sarkisyan - through it they received from Russia guarantees for long-term protection of their positions, while the Russians got the key factors of their long-term presence in Armenia. The other question is - how much is this deal advantageous for Armenia and its people? Unfortunately, our generation will be forced to assess this "advantage" when Armenia is forced to "digest" the lessons of history.
Source: Aykakan Zhamanak, Yerevan, in Armenian 7 Dec 02 p5
/© BBC Monitoring
Copyright 2002. All Rights Reserved.
Financial Times Information Limited - Asia Africa Intelligence Wire
Copyright © 2002 Financial Times Limited, All Rights Reserved
December 7, 2002 9:38am
12/07/2002
Text of Ayk Gevorkyan report by Armenian newspaper Aykakan Zhamanak on 7 December entitled "Towards the lessons of history"
We could say that the year 2002 has been marked in Armenia by the concept of Property-for-Debts. And this is natural. This was a deal without precedent - one country gives away its property to another country instead of its debts, and this property is one third of this country's energy producing capacity. The deal is not only surprising, it could hardly be described as logical. On the one hand Armenia speaks about 10 per-cent annual economic growth, while on the other adopting a working style typical of a country going bankrupt.
It is interesting that this deal has not aroused as much public indignation as, for example, the sale of the [Yerevan] Brandy Factory or the Hotel Armenia, even though the sale of these enterprises could be considered child's play compared to the Razdan Power Plant [RPP]. It is normal that as a result of the exclusion of the public from discussions of the Property-for-Debt formula, to this day society does not realize what had really happened.
The document, which was signed by [Russian Minister of Science, Industry and Technology] Ilya Klebanov and [Armenian Security Council chief and Defence Minister] Serzh Sarkisyan and later by the prime ministers of Russia and Armenia, was kept secret till the beginning of this week, when the agreement was presented to the National Assembly for ratification. Blind Russophilia and pathetic affection of the executive power did not allow the parliament to examine this document properly. But even if the Property-for-Debt deal is examined superficially, it becomes clear that it mainly resolves political problems. Particularly, by giving away the Razdan Power Plant to the Russians we have created all the preconditions for the accumulation of new debts to Russia and deepening our dependence on Russia. Robert Kocharyan and Serzh Sarkisyan are certain to win in this situation, as only Russia can guarantee their long-term survival in power.
Nevertheless, the paper contained very interesting points. Let us take some features of the handover of the Razdan Power Plant to Russia as an example. According to that agreement, the RPP has been estimated at 31m dollars without its fifth bloc. Let us remember this figure and go on. According to the 7th clause of the contract, Hayenergo will provide 100 per cent payment for electric power bought from this plant, which has already become Russian. But the fact is that in the last four-five years Hayenegro has never paid 100 per cent for electric power produced by the RPP - the payment was only 70-80 per cent. This led to a debt of 34bn drams or 70m dollars. This means that when Armenia was the owner of the RPP full payment could be ignored, but when Russia becomes the owner, 100 per cent payment should be provided. And if the level of payment remains 70-80 per cent, in four-five years the debt to the RPP will be 70m dollars. In this case this will be an inter-state debt, as Armenia will accumulate debts to Russia. And naturally this debt will be repaid according to the tested scheme, for example handover of the Sevan-Razdan cascade or Lake Sevan to the Russians. Our authorities explain the expediency of handing the RPP to the Russians by the fact that the plant has been used up and needs massive investments. But this may constitute a basis only to a sixth-form pupil. It becomes clear from the above figures that in case of 100 per cent payment, the RPP itself may settle the repair problems. Even in case of 70 per cent payment, the fifth bloc might be finished.
In brief, it becomes clear that the handing of the RPP to the Russians is only a balloon which may burst due to a simple arithmetic. But what is the real reason behind this? The real reason is the mutual advantage of the deal. Indeed, the deal is very advantageous for Robert Kocharyan and Serzh Sarkisyan - through it they received from Russia guarantees for long-term protection of their positions, while the Russians got the key factors of their long-term presence in Armenia. The other question is - how much is this deal advantageous for Armenia and its people? Unfortunately, our generation will be forced to assess this "advantage" when Armenia is forced to "digest" the lessons of history.
Source: Aykakan Zhamanak, Yerevan, in Armenian 7 Dec 02 p5
/© BBC Monitoring
Copyright 2002. All Rights Reserved.
Financial Times Information Limited - Asia Africa Intelligence Wire
Copyright © 2002 Financial Times Limited, All Rights Reserved
#6
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Posted 10 December 2002 - 04:45 PM
quote:
Originally posted by Azat:
It is interesting that this deal has not aroused as much public indignation as, for example, the sale of the [Yerevan] Brandy Factory or the Hotel Armenia, even though the sale of these enterprises could be considered child's play compared to the Razdan Power Plant [RPP].
Yes! The Armenian idiotism doesn't allow this nation to see things beyond symbolism. Originally posted by Azat:
It is interesting that this deal has not aroused as much public indignation as, for example, the sale of the [Yerevan] Brandy Factory or the Hotel Armenia, even though the sale of these enterprises could be considered child's play compared to the Razdan Power Plant [RPP].
Did I use the that "i" word again.... ?
#7
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Posted 10 December 2002 - 05:28 PM
Yes MJ you have / mi shish Noyak qo hashvin / vorpes tuganq /
[ December 10, 2002, 05:29 PM: Message edited by: MosJan ]
[ December 10, 2002, 05:29 PM: Message edited by: MosJan ]
#8
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Posted 16 January 2003 - 08:36 PM
Armenia ready to transfer property to Russia as debt repayment
January 16, 2003 1:43pm
01/16/2003
Moscow, 16 January: The Armenian government is ready to repay the debts on loans it received from Russia in the past years by handing over some of its property to the Russian government, Armenian President Robert Kocharyan said on Thursday [16 January] at the talks with [Russian] Prime Minister Mikhail Kasyanov.
Armenia has already paid off the debts for energy resources, and it is high time now other debt issues were settled, he said, adding that the two countries had reached agreement on the list of assets at the end of last year.
Russia is expected to get stakes in the Mars joint-stock company, two research institutions and the immovable assets of Razdan thermal power plant.
Kasyanov said, on his part, that Russia believed in the importance of practical strategic partnership with Armenia. The decisions that the two countries had taken in the last two years laid solid grounds for the progress of bilateral ties, he indicated.
Kocharyan urged the Russian counterparts to consider plans for long-term business relations with Armenia. "People never draw up business plans for just another 12 months," he said.
Source: ITAR-TASS news agency, Moscow, in English 1535 gmt 16 Jan 03
/© BBC Monitoring
Copyright 2003. All Rights Reserved.
Financial Times Information Limited - Asia Africa Intelligence Wire
Copyright © 2003 Financial Times Limited, All Rights Reserved
January 16, 2003 1:43pm
01/16/2003
Moscow, 16 January: The Armenian government is ready to repay the debts on loans it received from Russia in the past years by handing over some of its property to the Russian government, Armenian President Robert Kocharyan said on Thursday [16 January] at the talks with [Russian] Prime Minister Mikhail Kasyanov.
Armenia has already paid off the debts for energy resources, and it is high time now other debt issues were settled, he said, adding that the two countries had reached agreement on the list of assets at the end of last year.
Russia is expected to get stakes in the Mars joint-stock company, two research institutions and the immovable assets of Razdan thermal power plant.
Kasyanov said, on his part, that Russia believed in the importance of practical strategic partnership with Armenia. The decisions that the two countries had taken in the last two years laid solid grounds for the progress of bilateral ties, he indicated.
Kocharyan urged the Russian counterparts to consider plans for long-term business relations with Armenia. "People never draw up business plans for just another 12 months," he said.
Source: ITAR-TASS news agency, Moscow, in English 1535 gmt 16 Jan 03
/© BBC Monitoring
Copyright 2003. All Rights Reserved.
Financial Times Information Limited - Asia Africa Intelligence Wire
Copyright © 2003 Financial Times Limited, All Rights Reserved
#9
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Posted 16 January 2003 - 09:06 PM
Good job, Robik. Now you will be given another term to destroy the country further.
#10
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Posted 16 January 2003 - 09:12 PM
MJ jan why are you upset. He is not destroying the country, he is just selling it.
#11
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Posted 16 January 2003 - 09:23 PM
quote:
Originally posted by Azat:
Kocharyan urged the Russian counterparts to consider plans for long-term business relations with Armenia. "People never draw up business plans for just another 12 months," he said.
Yeah, sure. He still has job to do.Originally posted by Azat:
Kocharyan urged the Russian counterparts to consider plans for long-term business relations with Armenia. "People never draw up business plans for just another 12 months," he said.
P.S. Note that I don't mind privatization of Armenian enterprises and transferring them under foreign ownership. I am all for it - but only when the transaction makes business sense for Armenia.
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