organization participation: BSEC, CCC, CE, CIS, EAPC,
EBRD, ECE, ESCAP, FAO, IAEA, IBRD, ICAO, ICRM, IDA, IFAD, IFC,
IFRCS, ILO, IMF, Intelsat, Interpol, IOC, IOM, ISO, ITU, NAM
(observer), OPCW, OSCE, PFP, UN, UNCTAD, UNESCO, UNIDO, UPU, WFTU,
WHO, WIPO, WMO, WToO, WTrO (observer)

Diplomatic representation in the US: chief of mission: Ambassador
Arman KIRAKOSIAN

chancery: 2225 R Street NW, Washington, DC 20008

telephone: [1] (202) 319-1976

FAX: [1] (202) 319-2982

consulate(s) general: Los Angeles

Diplomatic representation from the US: chief of mission: Ambassador
Michael C. LEMMON

embassy: 18 Marshal Bagramian Avenue, Yerevan

mailing address: American Embassy Yerevan, Department of State,
Washington, DC 20521-7020

telephone: [374] (2) 52-16-11

FAX: [374] (2) 151-550

Flag description: three equal horizontal bands of red (top), blue,
and orange

Armenia Economy

Economy - overview: Under the old Soviet central planning system,
Armenia had developed a modern industrial sector, supplying machine
tools, textiles, and other manufactured goods to sister republics in
exchange for raw materials and energy. Since the implosion of the
USSR in December 1991, Armenia has switched to small-scale
agriculture away from the large agroindustrial complexes of the
Soviet era. The agricultural sector has long-term needs for more
investment and updated technology. The privatization of industry has
been at a slower pace, but has been given renewed emphasis by the
current administration. Armenia is a food importer, and its mineral
deposits (gold, bauxite) are small. The ongoing conflict with
Azerbaijan over the ethnic Armenian-dominated region of
Nagorno-Karabakh and the breakup of the centrally directed economic
system of the former Soviet Union contributed to a severe economic
decline in the early 1990s. By 1994, however, the Armenian
Government had launched an ambitious IMF-sponsored economic program
that has resulted in positive growth rates in 1995-2000. Armenia
also managed to slash inflation and to privatize most small- and
medium-sized enterprises. The chronic energy shortages Armenia
suffered in recent years have been largely offset by the energy
supplied by one of its nuclear power plants at Metsamor. Armenia's
severe trade imbalance, importing three times its exports, has been
offset somewhat by international aid, domestic restructuring of the
economy, and foreign direct investment.