Armenian president, chief banker discuss monetary policy in 2005

Armenian president, chief banker discuss monetary policy in 2005

15 Feb 05

Yerevan, 15 February: Armenian President Robert Kocharyan and Armenian
Central Bank Chairman Tigran Sarkisyan today discussed monetary policy
in 2005 and the Central Bank’s move to stabilize the currency market.

Sarkisyan filled in the president on the plans of the Central Bank
to minimize risks on the currency market caused by fluctuations in
the rate of the dram in connection with the expected considerable
currency flows this year, as well as private transfers, which can
exceed 1bn dollars in the current year.

Moreover, the president and the bank chairman touched on issues
concerning the law on currency regulation and control, which is to
come into force this year. In particular, they noted it was important
that the supervising bodies consistently oversee the fulfilment of the
provisions of this law. Sarkisyan noted that a ban should be imposed
on TV commercials which did not show the prices of advertised goods
and services in the national currency.

The head of the Central Bank pointed out that the commissions which can
carry out price policy in the republic should change their regulations
and demand that all companies show prices in drams.

[Passage omitted: minor details]

From: Emil Lazarian | Ararat NewsPress