Most countries hammered by the financial crisis ran into trouble because their banks crumbled, their exports collapsed or they ran up too much debt. Armenia, a landlocked nation of three million in the Caucasus, has a different problem, The Wall Street Journal reported. Fiscally prudent and too isolated to be hit by early fallout from the crisis, the country is proving there is no haven from the downturn: The economy has been hit hard as Armenians who live abroad send less money home.
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