Ambassador Sergey Kapinos, the Head of the OSCE Office in Yerevan, issued the following clarification regarding interpretations reprinted in the media of a statement made concerning the state of the Armenian economy at a roundtable discussion on "The Business Environment in Armenia: a Glance from the Outside" on 11 March 2011:

"The economic model that developed in Armenia in the 1990s has much in common with the monopolistic system seen in many parts of Latin America. I am in favour of evolutionary development. Evolution in society – this is reform. Reform, if seen as a mere cosmetic procedure, will only serve to hide problems and compound them. I believe that reforms in Armenia are possible and can be successful. But the question of their necessity and desirability, as well as their eventual form and scale, is a matter for the Armenian people to decide. International organizations can only give advice and assess, and provide support."