"The World Bank recommends the government of Armenia to diversify the economy and assure competitiveness, World Bank Managing Director Ngozi Okonjo-Iweala said at Sunday press-conference in Yerevan. She also said, 'if the government succeeds to get through these challenges, it will be able to assure further development of the country's economy.'..." [ARMINFO News (Armenia, 10/19)/Factiva]

ARKA adds that "...Okonjo-Iweala believes that Armenia has new opportunities to raise its competitiveness, provided, particularly, by the prospect of signing free trade agreement with the EU and the opening of the border with Turkey. She also said the government must take action to prevent the economy from becoming the hostage of oligarchic and monopolistic structures. 'In the post-crisis period when the economic situation begins to improve the government should continue measures aimed at improvement of taxation and customs administration that will secure additional revenues,' she said...." [ARKA (Armenia, 10/19)/Factiva]

In related news, Xinhua writes that "...the European Commission has proposed offering EUR100 million of economic assistance to Armenia.... The EU's executive body said Friday the aid to Armenia would include a loan of EUR65 million and a grant of EUR35 million to support an adjustment program agreed with the International Monetary Fund (IMF) to help the country handle the global financial crisis...." [Xinhua (10/16)/Factiva]