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  • Archive for March, 2020

    Armenia’s ruling party nominates its candidate for central bank chairmanship

    Tuesday, March 31st, 2020

    My Step faction at the Armenian National Assembly nominated yesterday Martin Galstyan to the post of the head of the Central Bank of Armenia, Haykakan Zhamanak daily reported Monday night referring to Artak Manukyan, deputy chairman of the parliamentary committee for financial and budgetary issues

    Armenian deputy prime minister commens on the need to switch to cashless payments as part of the fight against coronavirus

    Monday, March 30th, 2020

    Speaking at a news conference today, Armenian Deputy Prime Minister Mher Grigoryan commented on the need to reduce cash flow in the country and switch to cashless payments as part of the fight against the spread of coronavirus

    EDB expects low inflation in Armenia to remain in 2020

    Monday, March 30th, 2020

    In 2020, Armenia’s GDP growth will slow down to 5.6% due to the exhaustion of the effect of a low comparison base in the ore mining sector as well as a reduction in net exports caused by weak external demand, the Eurasian Development Bank’s division for analyses said in its review.

    Some 691 million drams raised to support Armenian government‘s efforts to contain spread of coronavirus

    Friday, March 27th, 2020

    Some 691.5 million drams (almost $1.4 million) have been raised so far to support the Armenian government’s efforts to contain the spread of coronavirus Covid 19, the Ministry of Finance reported

    Armenian banks have revised 200 billion drams worth loans

    Friday, March 27th, 2020

    From March 20 to this day, Armenian banks have revised lending terms for 96,838 individuals and 3,395 legal entities, Armenian Prime Minister Nikol Pashinyan said

    Fitch ratings: Russian and CIS banks pressured by coronavirus and oil price slump

    Thursday, March 26th, 2020

    The economic pressures resulting from the spread of the coronavirus and the lower oil price are credit negative for banks in Russia and neighbouring markets, and could result in negative rating actions, Fitch Ratings says. Fitch has revised banking sector outlooks to negative for seven of the eight markets it covers in the region – Russia, Ukraine, Kazakhstan, Armenia, Azerbaijan, Belarus and Georgia. The banking sector outlook for Uzbekistan remains stable

    Ardshinbank and the Black Sea Trade and Development Bank have signed a USD 20 million loan agreement

    Thursday, March 26th, 2020

    Ardshinbank has received the fifth facility from the Black Sea Trade and Development Bank (BSTDB) in the amount of USD 20 million to support small and medium-sized enterprises (SMEs) in Armenia

    Armenian central bank strips Varks AM credit organization of license

    Wednesday, March 25th, 2020

    The Central Bank of Armenia has announced yesterday the license of Varks AM Credit Organization invalid, the press office of the regulator reported on Wednesday

    Armenian central bank condemns attempts of public pressure on financial institutions

    Wednesday, March 25th, 2020

    The Central Bank of Armenia condemns the attempts of public pressure on financial institutions by various people, the press service of the regulator reports