168 ZHAM: ARMENIA’S GROSS INTERNATIONAL RESERVES SLUMP 31% – EXPERT
10:00 * 02.12.14
In an interview with the paper, numesmatist and financial advisor
Armen Papazyan attributed the national currency’s decline to the
international trends, in the meantime citing regional developments
and political problems as major contributory factors.
The expert particularly pointed out to the decreasing gross
international reserves. “Armenia’s gross domestic reserves have dropped
by 31% (from $2430.6 million to $1663.1 million). It means that the
Central Bank does really have reserves, but we feel it necessary to
be more careful with them. I believe the Central Bank pursues more
permissive policies given the serious problems on Armenia’s foreign
currency market and the urgent need for those reserves,” Papazyan
told the paper from London.
From: Emil Lazarian | Ararat NewsPress
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