ZHAMANAK: ARMENIAN BANKS NOT READY TO OFFER CHEAPER LOANS
09:08 * 02.10.14
A Central Bank official has ruled out the possibility of reducing the
interest rates for loans, noting that they cannot decide on such a
measure unless the population is ready to invest saving at lower rates.
“Are we ready to invest our savings at low interest rates? Once we
resolve this problem, we will be able to offer loans at a lower rate,”
Nerses Yeritsyan, the Bank’s deputy president, has told the paper.
Asked what then becomes of the cheaper loans which Armenia receives
from foreign states, Yeritsyan, a former minister of economy, replied,
“When the risk in our country adds to that, it results in the interest
rates we actually have.”
Armenian News – Tert.am
Disclaimer: This article was contributed and translated into English by Badalian Vardan. 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.
Direct link to this article: https://www.armenianclub.com/2014/10/02/zhamanak-armenian-banks-not-ready-to-offer-cheaper-loans/