Sunday, August 20, 2006

Another scam hits Armenia...

It sounds to me like the U.S. Department of State is running another scam to put Armenia in debt.

Armenia fell for the IMF and World Bank scam, so why not the "Millennium Challenge Account - Armenia" scam?

From what I understood, the Millennium Challenge was to be a grant (according to their website they are), but according to the story below, it is a "LOAN" not some grant that would not have to be repaid.

As I said before on this subject: "It’s quite clear from Armenia’s proposals to Washington, they are presenting programs that will allow them once again to have an opportunity to enrich their own personal wealth by misusing, and/or misappropriating funds by overcharging by a few times for roads and water systems, inevitably pay starvation wages to the common workers and stuffing the difference in their pockets."

Mark my words, the Millennium Challenge Scam will only cause Armenia harm and make some very bad people more powerful, thus taking us further from becoming a fair and free nation.

Of course this is what Washington has and is working towards.


Arka News Agency, Armenia
Aug. 17, 2006

YEREVAN, August 17 /ARKA/.
Ara Hovsepyan was assigned Executive Director of Millennium Challenge Account - Armenia Foundation, Deputy Minister of Finance and Economy David Avetisyan told journalists today.

He said that Hovsepyan's nomination was approved at a sitting of the Millennium Challenge Account administrative board.

Avetisyan reported that 48 nominations were put forward for this post; however, more than half of them did not meet the official requirements.

"Ara Hovsepyan is really a strong contender and fitted most for this post," Avetisyan said.

In his turn, Hovsepyan expressed gratitude for the trust in him, and pointed out that he realizes the whole responsibility that this post imposes on him.

"The program of the Millennium Challenge Account Corporation in Armenia is a unique opportunity to improve the infrastructure in the Armenian regions," he said.

Ara Hovsepyan holds a Master's Degree of the Oxford University and the American University of Armenia. He worked as a representative of the British Ministry of Development in Armenia, and also at the Department of International Organizations of the Armenian Foreign Ministry.

On March 27, 2006, Armenian Minister of Finance and Economy Vardan Khachatryan and Executive Director of the American Millennium Challenge Account Corporation John Danilovich signed an agreement in Washington, DC.

According to the agreement, the corporation will give Armenia $235.65mln loan for five years for implementation of projects on restoration of irrigation systems and regional roads.

The Millennium Challenge Account Corporation was founded at the beginning of 2004 under the U.S. State Department program, aimed at developing economy and poverty reduction in the world.

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