Wednesday, 17 December 2014
Statement by the Prime Minister of the Republic of Armenia in connection with the situation in the financial market
Current developments in the financial market are mainly due to the global and regional events that are not devoid of obvious speculative elements.
In the context of the elemental course of events, the Armenian Government continues to remain committed to the policy of floating exchange rate in order rule out long-term instability in the economy.
The government is supporting the efforts of the Central Bank, aimed at the stability of the financial system and takes all measures to ensure the normal functioning of the financial system and protect the rights and interests of businesses and citizens of the Republic of Armenia.
All borrowers should rest assured that the Republic of Armenia has an effective system to guarantee deposits and both the Government and the Central Bank are doing and will do everything to protect citizens' deposits.
Today at 14:00, the Central Bank will provide the public with detailed explanations regarding the situation. The Government keeps in touch with its international partners and we are confident that together and with cold reasoning, we can ensure the stability of the financial and commodity markets, including eliminating the unjustified price hike of consumer goods.
