YEREVAN, December 3. /ARKA/. Armenia's Minister of Labor and Social Affairs Mesrop Arakelyan denied today rumors circulated in the media that he is the owner of a credit organization called Mogo.

Media reports and social networks posts claimed that the country's social sector would be headed by a person who “owns a credit organization that robs people, providing loans at 400% interest rate'.

“That credit organization does not belong to me. I worked for it as director and before that I worked for many other banks,” Arakelyan said.

He denied allegations that the credit organization provided loans at 400%, stressing that he did not have such information.

“I think that my work as of minister will give answers to many questions,” Arakelyan said. --0--