YEREVAN, August 18. / ARKA /. The Armenian government passed Thursday a decision to replace an interest free promissory note of 55.6 billion drams issued previously to the Central Bank with a bearer promissory note of 77.5 billion drams.

Finance minister Vatche Gabrielian told during a Cabinet session that the decision was made taking into account the fact that under the law the Armenian government covers the losses of the Central Bank by the promissory note.

"We are updating these amounts based on the results of the fiscal year of the Central Bank", he said, adding that the current increase was prompted by fluctuating exchange rate of the national currency over the past year.

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Tags: Armenia, CBA, promissory note

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