Central Bank not certain about plan to freeze villagers’ loans

Armenia’s Central Bank not certain about plan to freeze villagers’ loans

17:29 – 22.05.13

The Central Bank of Armenia (CBA) does not promise to freeze the loans
of the Armavir region’s villagers who suffered a heavy crop damage as
a result of last week’s heavy hailstorms.

In a statement, CBA President Arthur Javadyan says such a measure may
pose additional risks to the banking and financing sector, cutting the
inflow of funds.

`It is worthwhile mentioning that the Central Bank of Armenia is not
authorized to intervene in loan lenders’ internal affairs and
contractual relations,’ reads the statement.

Armenian News – Tert.am

From: Emil Lazarian | Ararat NewsPress

Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.

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Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS