Turkish-born economist to help Armenian economy

ISTANBUL

A Turkish-born U.S. professor at the Massachusetts Institute of Technology (MIT) has agreed to provide his assistance in restoring Armenia’s economy after the country was hit with a wave of anti-government protests, newly-elected Armenian Prime Minister Nikol Pashinyan said on May 13.

“I just had a phone conversation with widely known economist of Armenian origin Daren Acemoğlu. He said that he is ready to help Armenia in the issue of restoring and developing the economy. Mr. Acemoğlu has accepted the invitation to visit Armenia,” Pashinyan wrote on Facebook, according to Sputnik news agency.

Acemoğlu was born in Turkey to Armenian parents, but since has moved to the United States and now holds the U.S. citizenship. He has previously criticized the former Armenian government for high level of corruption and ineffective economic policy as the country has long been suffering from underdevelopment.

He was the recipient of the “2017 Rahmi M. Koç Medal of Science” for his “distinguished contributions to the economic realm globally,” and his name has repeatedly been mentioned as a candidate for the Nobel Prize in economics.

Pashinyan said that the dates of Acemoğlu’s visit to Yerevan would be announced soon.

The election of Pashinyan, a former newspaper editor who spent time in prison for fomenting unrest, marked a dramatic rupture with the cadre of rulers who have run Armenia since the late 1990s.

On May 10, acting finance minister Vardan Aramyan said he was quitting his post before the formation of a new government under Pashinyan. Aramyan served as finance minister in the previous government led by former president Serzh Sargsyan, who stood down on April 23 amid protests.