Tuesday, October 23 2012 21:27
Even if reduced by 1% Central Bank's refinancing rate might help Armenian exporters to recover from their losses
ArmInfo. Even if reduced by 1% the Central Bank's refinancing rate might help the Armenian exporters to recover from their losses, Development Manager of Ameriabank Tigran Jrbashyan said during a press-conference on Tuesday.
He thinks that the reduction is possible if not prevented by the new foreign exchange policy. "For many years we have witnessed seasonal foreign exchange fluctuations in Sept-Dec, but this year's change in the currency market model has messed up all forecasts. So, I would advise the Central Bank to revise its rate," Jrbashyan said.
Concerning Armenia's jump on the Doing Business 2013 rating, Jrbashyan said that this is one of the biggest jumps in the history of the rating. "This achievement may help us to improve our image abroad provided that we turn it into long-term economic benefits. The jump indicates that there have been certain reforms, but this is not the only factor we need to ensure our long- term economic development," Jrbashyan said.
Armenia is the 32nd among 183 countries on the Doing Business 2013 rating. Last year it was the 50th.
Oct 9 the Central Bank of Armenia decided to keep its refinancing rate unchanged at 8%. The last time the rate was changed Apr 12 2011, when the CB reduced it from 8.5% to 8%.
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