YEREVAN, June 4. /ARKA/. The stress tests conducted by Armenia's Central Bank showed that even under scenarios of a deep recession or a financial market crash, even an apocalyptic scenario, Armenia-based banks have enough capital to withstand negative economic shocks, the chairman of the Central Bank Martin Galstyan told reporters on Thursday.

He recalled that in 2020, the county's financial system had to operate in conditions of unprecedented shocks and high uncertainties, caused by the coronavirus pandemic and the war in the Nagorno-Karabakh conflict zone, unleashed by Azerbaijan with the support of Turkey. Nonetheless, the system has been able to keep on providing the intermediary services and absorbing the risks.

Categories: 121, Banks @en, General news, News, News of the hour | Comments Off on Armenia-based banks have enough capital to withstand negative economic shocks, central bank chairman says

Tags: Armenia, Banks, economic shocks

Read more