Finding Your Way Through Crisis
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While many claimed that Armenia would be unaffected by the economic crisis the devaluation of the dram and the loss of migrant employment opportunities abroad began to take their toll by fall of 2008. The crisis left many migrant workers unable to find better-paying jobs abroad. Inflation of goods and services and the depreciation of the dram against foreign currencies eroded the purchasing power of remittances that were providing a meager existence for many. Historically, Armenia’s economy has been largely based on remittances from relatives and the steady stream of wages from workers living abroad, particularly in Russia. However: when the entire world found itself in economic crisis, Armenians found that they could not economically depend on the outside world. Mere survival required that citizens think of alternative ways to build their own economy and support themselves in their own country. To raise media and public awareness about the impact of the global financial crisis on different facets of the Armenian economy and to help them identify and adopt new life strategies, CMSPA offered the following initiatives.
On 19-20 February, IREX/CMSPA organized a symposium on “Advanced Coverage of Socio-Economic Issues and Migration” in partnership with various international organizations including Eurasia Partnership Foundation, Caucasus Research Resource Center (CRRC), International Organization of Migration (IOM) and Social Protection Systems Strengthening project (SPSS) in Armenia. The goal of the symposium was to provide reporters with up-to-date information and statistical data on global economic crisis, migration and its socio-economic impact as well as to develop story ideas for This Month’s April issue on migration and the economy.
During the symposium, representatives of the partner organizations familiarized participants with the work of Eurasia Foundations’ Migration and Returnees’ Research Centers in the regions and the effect migration has on families and communities, emphasizing its impact on social programs and on economic growth. Participants were provided with an overview of recent migration-related surveys conducted in Armenia. The attendees also watched a documentary film about Armenian migrants abroad, concentrating on how they lived, what their expectations were before leaving, and the unprecedented situations they faced after immigrating.
The April issue of IREX CMSPA’s “This Month” supplement entitled “Finding Your Way” was produced and distributed throughout the country and designed to serve as a comprehensive guide to help the average citizen develop personal survival strategies during the crisis. The supplement included a wide range of advice for unemployed Armenians, including information on various trainings and barter opportunities offered by state employment agencies and private donor agencies and on opportunities that the Armenian temporary migrant workforce can find inside the country. In addition to presenting issues caused by the financial crisis, the editorial content of the supplement offered short and long term strategies on how to survive and even thrive during the downturn.
IREX also conducted two rounds of financial planning trainings for selected targeted media outlets and loan specialists from CMSPA’s partner Armenian banks in January, prior to which attendees were visited by IREX financial experts in on-site consultations geared towards improving the financial planning of selected media outlets. The training and the on-site consultations were conducted by IREX consultant Roger Bird and TCGI consultant Stephen Sena. During the course of the symposium, Bird reinforced the value of business investments and the importance of financial statements and guided the participants through various strategic planning exercises, while Mr. Sena focused on the benefits of SWOT analysis and the impact of market assessment and competitive analysis. To assist the media outlets and to better acquaint the partner banks with the inner workings of the media sector, loan specialists from Ameria Bank assisted the participants in preparing their strategic plans.
