Armenia

In an effort to cool political tensions, Armenia's parliament recently approved an amnesty for jailed anti-government protestors, paving the way for future dialogue with the opposition which has been pressing for early elections, since President Serge Sarksyan has been elected in 2008. Some 400 inmates will reportedly be released from prison, with another 380 set to see their sentences reduced. We note, however, that tensions with opposition parties will likely remain elevated due to the ongoing effects of the country's 14.1% real GDP contraction in 2009, which saw many move below the poverty line, and the adverse effects of high inflation on household purchasing power.

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