USAID expert says Armenian banking system is stable

02.07.2012 14:08
USAID expert says Armenian banking system is stable

YEREVAN, July 2. /ARKA/. Senior Banking Advisor, USAID expert Scott Calhoun says Armenian banking system is stable.
He told ARKA that the Central Bank of Armenia is a very serious regulator that has set some very stable standards for banks in capital, risk rates and reserves aspects.
According to him, today the world is concerned by the process of ensuring financial stability in the conditions of possible economic shocks, particularly, connected with the situation in Europe. However, passive involvement of Armenia into the global processes makes us hope that these negative course will not move from Europe to Armenia, he said.

Along with this Calhoun noted that many small and medium-sized companies have difficulty with accessing loans and other financial means in Armenia.
In fact they are just a part of a developing market, and by the end of the year USAID will prepare a program targeted at changing this situation, particularly, the program will assist providing financial services outside Yerevan to citizens and small companies, the expert added. —0--

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