“Dram-atic Inaction: No Measures Taken to Halt Armenian Currency Depreciation, Reveals Central Bank”
No measures taken regarding Armenian dram depreciation as opposite signals observed, says CBA President. Market intervention to manage expectations. Details on NEWS.am’s Telegram.
“Ruble Plummets as Sanctions Hit Russia: Central Bank Official Warns of Worsening Exchange Rate Depreciation”
Sharp drop in ruble exchange rate expected due to sanctions against Russia. Depreciation increases challenges for companies buying or selling rubles. Impact observed in Moscow Exchange.
Armenian Banks Struggle with Repayment of Loans in Artsakh, Says Central Bank Director
Armenian banks affected by loan repayments in Artsakh; recovery expectations for this year discussed by Central Bank director. 70% of the 315 billion drams debt package guaranteed by Ministry of Finance being repaid, remaining 30% written off. No market loans in portfolio.
“Banks in Armenia Facing Challenges: No Windfall Profits, President of Central Bank Calls for Investigation”
Banks in Armenia not making windfall profits, says Central Bank President Galstyan. Calls for internal investigation and highlights price increases in all services, including bank notifications. Also highlights banks’ inability to invest in technological development.
Armenia’s Construction Sector Surges: Annual Growth Exceeds Expectations
Construction sector in Armenia to experience higher than expected annual growth of 8.3%. President of the Central Bank predicts 6.1% growth for next year. Development and support services contribute to sector’s high activity rate.