ARMENIA NEEDS HEDGING INSTRUMENT

PanARMENIAN.Net
02.03.2010 18:18 GMT+04:00

/PanARMENIAN.Net/ Provided a small monetary base in Armenian commercial
banks, a certain hedging instrument is reqiured for Armenia, Chief
Executive Officer of ACBA-CREDIT AGRICOLE BANK Stepan Gishyan said.

According to him, international hedge funds experienced difficulties
during the crisis and 2009 was not the best year for establishing such
a fund in Armenia. "Armenia’s monetary base is not sufficient yet,
and banks are forced to attract cash in foreign currency to meet the
credit needs of its customers," he said.