Candidate for post of central bank chairman presents his vision of monetary policy

16.04.2020 19:12
Candidate for post of central bank chairman presents his vision of monetary policy

YEREVAN, April 16. /ARKA/. Martin Galstyan, a member of Armenia's Central Bank Board, nominated by the ruling My Step parliamentary faction as a candidate to replace Artur Javadyan as chairman of the regulator, emphasized the importance of public trust, financial literacy and the use of the latest technologies, when speaking at the parliament today.

"Speaking about the future, I would like to emphasize that along with the transformation of problems, the development and implementation of the monetary policy will become more complicated. Building a" bridge of trust" is the only guarantee that we will have a policy that is understandable to all , and that citizens and the business community will have a bigger trust in our national currency," he told lawmakers.

According to Galstyan, public trust is the most important criterion for conducting effective monetary policy. He said the main guarantee of increasing the trust is increasing the transparency of their policy. 'It is very important to have a dialogue with the public and the professional community," he said.
Galstyan emphasized the importance of financial literacy of the Armenian population for the effective implementation of the monetary policy.

“A person who makes decisions based on information and knowledge is the key to the successful implementation of our policy. The most important element of responsible lending are the people who make decisions in accordance with their financial capabilities. I believe that an effective policy is not a limitation of financial opportunities, but a society with a high level of financial education able to make weighted decisions, "he said.

Galstyan also noted the importance of widespread use of the latest technologies for working with the database.
"In my opinion, the harmonious integration of new technologies will allow us to bring a factual decision-making culture to a new level. Many of the problems of the 21st century will come from the cyber domain, and I think that the introduction of a modern cybersecurity strategy is a prerequisite." he said.

At the same time, Galstyan noted that some problems can modify externally, so the key to the solution is not to go beyond them, but to take a fresh look at any problem and consider it as an opportunity.
“I am convinced that the Central Bank team is able to overcome all problems. A team united by common values, who are concerned about the future of the country, who are honest and seasoned people and who do their job with a deep understanding that they serve the people and their homeland,” he said.


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