CP presented the candidacy of Martin Galstyan for the post of Central Committee President

The ruling “Civil Agreement” faction of the Armenian Parliament has nominated Martin Galstyan for the post of Central Bank President. The profile committee has already approved this initiative, highly appreciating the regulator’s efforts to maintain macroeconomic stability in the face of global crises. The final decision will be made at the May plenary session of the National Assembly.

The issue of nomination of the candidate was discussed at the meeting of the Standing Committee on Financial, Credit and Budgetary Issues held on April 6. Speaking before the deputies, Martin Galstyan summarized the work done by the structure since 2020. He emphasized that macroeconomic stability has no alternative and is one of the fundamental preconditions for the development of the society and the state.

The candidate paid special attention to the strategic steps of the Central Bank, which allowed the country’s financial system to withstand periodic external shocks. In particular, he noted the efficiency of foreign exchange interventions and competent use of state reserves in order to stabilize the markets. Galstyan expressed his belief that the main key to successfully facing any challenge is the presence of a high-quality professional team, stressing the desire to make the RA Central Bank one of the best in the world.

During the professional discussion, he also answered the parliamentarians’ questions regarding the inflation rate, bank liquidity, monetary policy directions and future joint legislative reforms. Based on the results of the discussion, the commission voted in favor of proposing Galstyan’s candidacy to the National Assembly, urging to include the issue in the agenda of the May 5 session.

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