Central Bank: Independent rating agencies should be established in Armenia

24.04.2013 10:18
Central Bank: Independent rating agencies should be established in Armenia

YEREVAN, April 23. /ARKA/. Nerses Yeritsyan, deputy head of the Central Bank of Armenia, finds it necessary to create independent rating agencies in Armenia.

Speaking today at a news conference dedicated to the successful completion of the USAID-funded Partners for Financial Stability three-year project, he said that Armenia’s capital market has favorable grounds for growing, and establishment of such agencies will improve Armenia’s image.

Creation of rating agencies is one of objectives of the program, along with introduction of international financial standards in Armenia, creation of an export-crediting agency, improvement of the central bank’s ability to resist crises, improvement of accounting and auditing services and establishment of the central bank’s education and research center in Dilijan.

Yeritsyan said that rating agencies can be founded with participation of influential foreign companies or only by foreign companies. ---0----


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