Thursday, September 26 2013 14:38

Government of Armenia adopts decision to issue government note to reduce loss of Central Bank


ArmInfo. Government of Armenia adopted a decision Thursday to provide an ordinary non-interest-bearing government note on demand in the amount of 98.2 bln drams to the Central Bank of Armenia. Finance Minister Davied Sagrsyan introduced the draft decision. He said that note is provided to reduce the accumulated loss of the Central Bank for 2012 that exceeded reserves by 20.6 bln drams.

For that purpose, the Finance Ministry issued a government note for 55.6 bln drams to the Central Bank in August 2010 and another 77.5 bln drams in Aug 2011. Central Bank's equity fell from 2q98.4 bln drams to negative 20.6 bln drams ($51 mln) due to 17% increase in the accumulated loss to 144.4 bln drams ($357.8 mln) in 2012. In the first half, the accumulated loss of the Central Bank fell 10%. In Q3, the accumulated loss increased 3.6%, and in Q4 - 25.5%. Due to the government note, the equity of the Central Bank was increased to the positive level in early 2012 till October 1.

(The Central Bank's exchange rate fpr 26 Sept 2013 is 405.86AMD/1USD).
POST A COMMENT
Input digits     


News
Opposition NA factions vote against government-submitted 2025 draft  budgetOpposition NA factions vote against government-submitted 2025 draft  budget
EFSD to provide Armenia with $200 mln loan for construction of Kajaran tunnelEFSD to provide Armenia with $200 mln loan for construction of Kajaran tunnel
 Armenian authorities aim to establish a stable and favorable  environment for SMEs in the market Armenian authorities aim to establish a stable and favorable  environment for SMEs in the market
“The Will to Get Back on Your Feet Again” ։ A Film Series Funded by AraratBank
EFSD to become fully independent international organizationEFSD to become fully independent international organization
Fluctuations do not cause changes in 2025 draft budget of Armenia Fluctuations do not cause changes in 2025 draft budget of Armenia 
Upper Lars checkpoint open for transport
RA Finance Minister, German Ambassador discuss projects implemented with KfW supportRA Finance Minister, German Ambassador discuss projects implemented with KfW support
CBA hosting the 27th meeting of the Advisory Council on Monetary Policy for EAEU Member StatesCBA hosting the 27th meeting of the Advisory Council on Monetary Policy for EAEU Member States
Armenia`s gross international reserves 5.8% down by Nov 2024Armenia`s gross international reserves 5.8% down by Nov 2024
Armenian ECPC Chairman leaves for Paris Armenian ECPC Chairman leaves for Paris 
Armenia to host Plenary Session of PABSEC GAArmenia to host Plenary Session of PABSEC GA
RA Minister of Economy: Armenia and Georgia have great potential for  collaboration RA Minister of Economy: Armenia and Georgia have great potential for  collaboration 
863 Armenian trucks waiting to pass through Upper Lars checkpoint863 Armenian trucks waiting to pass through Upper Lars checkpoint
In 2025, Armenia will allow duty-free import of up to 9,000 tons of  cattle meat into the countryIn 2025, Armenia will allow duty-free import of up to 9,000 tons of  cattle meat into the country
EEC Council approves exemption from import customs duty on butter for  ArmeniaEEC Council approves exemption from import customs duty on butter for  Armenia
Wind power generation project discussed with Asian Development BankWind power generation project discussed with Asian Development Bank
Vahe Davtyan: Pressure on ANPP is part of broader geopolitical  competitionVahe Davtyan: Pressure on ANPP is part of broader geopolitical  competition
Gevorg Papoyan: Reducing target inflation threshold in the short term  will have negative economic consequencesGevorg Papoyan: Reducing target inflation threshold in the short term  will have negative economic consequences
 Economy Minister expects construction of Masdar`s solar station to  start in 2025 Economy Minister expects construction of Masdar`s solar station to  start in 2025
Economy Minister attributes Armenia`s economic slowdown to  Statistical Committee`s outdated calculation methodology Economy Minister attributes Armenia`s economic slowdown to  Statistical Committee`s outdated calculation methodology 
Depputy head of Armenia`s State Revenue Committee attends the Global  Forum on Transparency and Exchange of Information on TaxationDepputy head of Armenia`s State Revenue Committee attends the Global  Forum on Transparency and Exchange of Information on Taxation
Mechanism of financial support of industrial cooperation is new  integration level in real economy - minister Mechanism of financial support of industrial cooperation is new  integration level in real economy - minister 
Modi plans to enter Armenia`s market next year Modi plans to enter Armenia`s market next year 
Ameriabank Named Armenia’s Best Bank for Real Estate by EuromoneyAmeriabank Named Armenia’s Best Bank for Real Estate by Euromoney
Upper Lars check point closedUpper Lars check point closed
EDB Deputy Chairman: We have allocated a grant to Armenia to support  electronic vehicle passport projectEDB Deputy Chairman: We have allocated a grant to Armenia to support  electronic vehicle passport project
Armenian Banks: About HSBC, Ardshinbank and Conducting Business in the New Environment of Sanction RestrictionsArmenian Banks: About HSBC, Ardshinbank and Conducting Business in the New Environment of Sanction Restrictions
Ardshinbank Successfully Completes Acquisition of HSBC ArmeniaArdshinbank Successfully Completes Acquisition of HSBC Armenia
AraratBank Receives VISA Strong Partnership AwardAraratBank Receives VISA Strong Partnership Award
EU invests EUR 12.9 million to strengthen nuclear safety, radiation  protection and radioactive waste management infrastructure in ArmeniaEU invests EUR 12.9 million to strengthen nuclear safety, radiation  protection and radioactive waste management infrastructure in Armenia
Lusine Gevorgyan: Armenia is ready to host events  that meet  international standardsLusine Gevorgyan: Armenia is ready to host events  that meet  international standards
Ardshinbank Donates 120 Million AMD to the Hayastan All-Armenian FundArdshinbank Donates 120 Million AMD to the Hayastan All-Armenian Fund
Armenia`s government approves quota for duty-free import of electric  cars next year Armenia`s government approves quota for duty-free import of electric  cars next year 
Armenia extends restrictions on cement import Armenia extends restrictions on cement import 
Idram is now available on Wildberries!Idram is now available on Wildberries!
"Armenia" bloc MP: Armenia`s economic dependence on EAEU and Russia  never been so high
Armenia to categorize penalties for violating cash register usage  rulesArmenia to categorize penalties for violating cash register usage  rules
Eduard Hakobyan to be the new head of State Revenue CommitteeEduard Hakobyan to be the new head of State Revenue Committee
Adjust or build anew: Armenia planning to discuss development of new  TCAdjust or build anew: Armenia planning to discuss development of new  TC
80% Discount on IDBank’s Travel Card Services for Black Friday! 80% Discount on IDBank’s Travel Card Services for Black Friday!
Water-supply price to remain unchanged in Armenia next year Water-supply price to remain unchanged in Armenia next year 
Armenia`s Ministry of Hi-Tech Industry, WB discuss cooperation in  broadband communication development Armenia`s Ministry of Hi-Tech Industry, WB discuss cooperation in  broadband communication development 
IMF: Armenia`s real estate market continues to be overvaluedIMF: Armenia`s real estate market continues to be overvalued
Yerevan, Los Angeles to start technological collaboration Yerevan, Los Angeles to start technological collaboration 
IMF explains Armenia`s lower projected GDP growth for 2025IMF explains Armenia`s lower projected GDP growth for 2025
RA Ministry of Economy`s new export support program to reimburse  transportation expensesRA Ministry of Economy`s new export support program to reimburse  transportation expenses
Ardshinbank and Visa Are Holding a Promotion for Cardholders: “Transfer to a Visa Card, Win a MacBook Air”Ardshinbank and Visa Are Holding a Promotion for Cardholders: “Transfer to a Visa Card, Win a MacBook Air”
Digital labor contract system to be introduced in ArmeniaDigital labor contract system to be introduced in Armenia
EIB sees need for expanding cooperation with Armenia`s Ministry of  Territorial Administration and InfrastructureEIB sees need for expanding cooperation with Armenia`s Ministry of  Territorial Administration and Infrastructure
Shop at Yerevan Mall and pay with Idram for a chance to win giftsShop at Yerevan Mall and pay with Idram for a chance to win gifts
Georgian military road closed to heavy trucks due to heavy snowfallGeorgian military road closed to heavy trucks due to heavy snowfall
Expert: Economic collapse will lead to a lower quality of life for  Armenian citizensExpert: Economic collapse will lead to a lower quality of life for  Armenian citizens
Armenia exported 60 million kWh of electricity to Turkey through  Georgia - expertArmenia exported 60 million kWh of electricity to Turkey through  Georgia - expert
Armenia`s economic growth rate for January-October 2024 decreased to  8.1%Armenia`s economic growth rate for January-October 2024 decreased to  8.1%
Armenia`s CB see no risks for pension funds in case of direct  investmentsArmenia`s CB see no risks for pension funds in case of direct  investments
EFSD to become fully independent organizationEFSD to become fully independent organization
RUB transactions resumed in Armenia`s interbank foreign exchange  market Nov 18-22RUB transactions resumed in Armenia`s interbank foreign exchange  market Nov 18-22
Energy Ministers of Azerbaijan, Turkey, Georgia and Bulgaria meet in  Istanbul to discuss cross-border energy project Energy Ministers of Azerbaijan, Turkey, Georgia and Bulgaria meet in  Istanbul to discuss cross-border energy project 
How Not to Go Bankrupt on Black Friday: 5 Smart Shopping TipsHow Not to Go Bankrupt on Black Friday: 5 Smart Shopping Tips
Read more
Exchange rates
03.12.2024
RUB3.750.01
USD399.591.71
EUR420.171.52
GBP506.000.45
CAD284.651.20
JPY26.630.13
CNY54.840.14
CHF451.312.03


Experts
Armenian Banks: About HSBC, Ardshinbank and Conducting Business in the New Environment of Sanction RestrictionsArmenian Banks: About HSBC, Ardshinbank and Conducting Business in the New Environment of Sanction Restrictions
The state should establish strict rules for its relations with  investors, rather than engaging in promiscuous partnerships with them  - Artur AshugyanThe state should establish strict rules for its relations with  investors, rather than engaging in promiscuous partnerships with them  - Artur Ashugyan
Fixing over-ambitious and unrealistic goals most dangerous - expert Fixing over-ambitious and unrealistic goals most dangerous - expert 
Read more

Commented
The sale of HSBC Bank Armenia to Ardshinbank to be completed on  November 29, 2024The sale of HSBC Bank Armenia to Ardshinbank to be completed on  November 29, 2024
Armenian government approves 2024-2040 demographic strategy Armenian government approves 2024-2040 demographic strategy 
Armenia`s economy and state competing for sooner collapse -  ex-official Armenia`s economy and state competing for sooner collapse -  ex-official 

Company bonds
UCO CJSC "GLOBAL CREDIT"1
UCO CJSC "GLOBAL CREDIT"3
UCO CJSC "GLOBAL CREDIT"4
UCO CJSC "GLOBAL CREDIT"5
UCO CJSC "GLOBAL CREDIT"7
"National Mortgage Company"2A
"National Mortgage Company"2B
UCO CJSC “FINCA” 1
UCO CJSC “FINCA” 2