Government and World Bank representatives discuss cashless payments  of pensions and benefits

 Tuesday, July 7 2020 20:45:00
Government and World Bank representatives discuss cashless payments  of pensions and benefits

ArmInfo.Under the chairmanship of Armenian Deputy Prime Minister Mher Grigoryan and Global Director of the Social Protection and Jobs Global Practice at the World Bank Michal Rutkowski , discussions were held on the issues of  digitization and decriminalization of social payments.  Representatives of the UN, the International Monetary Fund and the EU  Delegation also participated in the discussion.

Hovhannes Khachatryan nominated to the Council of the Central Bank of  Armenia
 Tuesday, July 7 2020 13:00

ArmInfo. The ruling "My Step"  faction in Armenia nominated Hovhannes Khachatryan to the vacant post  of member of the Council of the Central Bank of Armenia.  As the  press service of the National Assembly of the Republic of Armenia  reports, the candidacy of Hovhannes Khachatryan will be considered at  a meeting of the NA Standing Committee on Financial- Credit and  Budgetary Affairs on July 8. The keynote speaker will be Artak  Manukyan, Deputy Chairman of the Commission.

IDBank’s new offer to the Business
 Friday, July 3 2020 15:49

ArmInfo.IDBank offers to move your business to online platform to use the new privileges of Internet-acquiring with profitable conditions and give an opportunity to your customers to avoid contact with cash and use your services remotely.

EFSD Assessed Accessibility of Macroeconomic Stabilization Financing  in Armenia
 Friday, July 3 2020 12:55

ArmInfo. The Eurasian Fund for  Stabilization and Development (EFSD, Fund), has published a working  paper "Global Financial Safety Net in Eurasia: Accessibility of  Macroeconomic Stabilization Financing in Armenia, Belarus,  Kyrgyzstan, and Tajikistan". The analysis is of particular importance  in the context of the current crisis associated with the COVID-19  pandemic, the Official Website of Organization reports.

Armswissbank successfully placed tranche of Eurobonds in the amount  of 5 mln 
 Thursday, July 2 2020 15:58

ArmInfo. Armswissbank has  successfully placed a tranche of Eurobonds in the amount of 5 million  euros. According to the press service of the bank, this tranche was  issued on June 1 and, as envisaged, the initial offering ended on  July 1.

Armenian President met with Chairman of Central Bank
 Wednesday, July 1 2020 20:25

ArmInfo.Armenian President  Armen Sargsyan met with the Chairman of the Central Bank of Armenia  Martyn Galstyan.

Leasing provides the opportunity to purchase Nissan Leaf  electric vehicles 
 Wednesday, July 1 2020 18:43

ArmInfo. ACBA Leasing, in  cooperation with Muran, within the framework of the Green Leasing  sub-brand, continues to expand the possibility of acquiring electric  vehicles in Armenia. According to the press service of ACBA-Credit  Agricole Bank, within the framework of cooperation, it will be  possible to lease Nissan Leaf electric vehicles with a maturity of 5  years.

Armenian Central Bank forecasts decline in private transfers by  22-25% for 2020
 Wednesday, July 1 2020 16:36

ArmInfo. The Central Bank of  Armenia predicts for 2020 a significant decrease in the inflow of  private transfers by 22-25%, which, compared with the March forecast  of a decline of 16-19%, indicates a significant deterioration in  expectations. This is stated in the Central Bank's monetary policy  program for the Q2 of 2020, published on June 30, where the forecast  for Armenia's GDP for 2020 is revised downward by 4%, against a  previously projected slowdown to stagnant 0.7%. The Central Bank  causes the deterioration of the forecast for money transfers of  individuals by a significant recession in the Russian economy in the  conditions of a sharp decline in oil prices. In parallel, a temporary  ban on entry into the country, introduced by Russia as part of  measures to prevent the spread of the coronavirus pandemic, will have  a significant impact on the decline in remittances. But the CBA notes  that in contrast to previous years in 2020, the impact of the decline  in remittances on GDP decreased incomparably.

Unemployment rate will be 20.4% in 2020 according to updated forecast  of the Central Bank of Armenia
 Wednesday, July 1 2020 11:57

ArmInfo. According to the updated  forecast of the Central Bank of Armenia, the unemployment rate in  2020 will be 20.4%, after which, with a slow economic recovery, this  indicator will annually decrease by 0.3-0.5 percentage points in the  medium term to 19.6% (against the previously expected 17.3% after a  y-o-y decline of 0.8-1.2 percentage points). This forecast is given  in the Central Bank's Monetary Policy Program for the Q2, 2020, which  noted a deterioration in the forecast for GDP for 2020 expecting a 4%  decline (against the previously expected stagnation growth of 0, 7%).

Ardshinbank`s 300 mln USD Eurobonds trades kicked off at the Armenian  Stock Exchange
 Tuesday, June 30 2020 20:51

ArmInfo. Ardshinbank's Eurobonds trading in the amount of $ 300 million (XS2080321198), which was issued by Dilijan Finance B.V. in the international capital market in  January this year, started at the AMX Armenian Stock Exchange on June  30, the press service of AMX told ArmInfo, noting that these bonds  are quoted on the Bbond list of the Armenian Stock Exchange.

GDP decline will amount to 4% in 2020 by CBA new forecast 
 Tuesday, June 30 2020 20:30

ArmInfo. The new forecast of the  Central Bank of Armenia indicates a 4% drop in GDP in 2020 with a  5.5% increase in 2021. This is stated in the Central Bank's monetary  policy program for the Q2 of 2020, published today, in connection  with which the Head of the Central Bank, Martin Galstyan, convened a  press conference.

According to the new forecast of the Central Bank, the ratio of the  budget deficit to the GDP of Armenia will be 5% in 2020
 Tuesday, June 30 2020 20:23

ArmInfo. According to the new  forecast of the Central Bank of Armenia for 2020, the ratio of the  state budget deficit to GDP will be 5% (against the actual 1% in  2019).  As noted in the Central Bank's Monetary Policy Program for  the second quarter of this year, this level is expected in the  conditions of a deteriorated forecast for GDP for 2020 to a 4%  decline (against the actual 7.6% growth in 2019).

EBRD and EU join efforts to boost green finance
 Tuesday, June 30 2020 15:43

ArmInfo. The European Bank for  Reconstruction and Development (EBRD) and the European Union (EU) are  stepping up their support for green investments and climate  resilience in Egypt, Morocco and the countries of the Eastern  Partnership (Armenia, Azerbaijan, Belarus, Georgia, Moldova and  Ukraine), the press service of  EBRD  reports.

HSBC Group and Jinishian Memorial Foundation allocate USD149,000 for a joint program to create jobs in regions of Armenia
 Monday, June 29 2020 15:09

ArmInfo.  26 June, 2020 marked  a remote launch of the program on “IT and Entrepreneurship Skill Improvement among Unemployed Population to Promote the Economic Development of Armenian Regions” implemented by Jinishian Memorial Foundation and funded by HSBC Group. The overall budget of the program is USD149,000, of which USD105,500 is provided by HSBC Group.

IDBank joins “The power of 1 dram” initiative
 Friday, June 26 2020 20:45

ArmInfo.From now on, IDBank is the strategic partner of the initiative of Idram Company, “The power of 1 dram”. The program is aimed at the development of a number of fields of vital and strategic importance.

CB Head: Lower refinancing rates will not significantly affect lower  interest rates in the economy
 Thursday, June 25 2020 19:14

ArmInfo. Reducing the refinancing rate will not significantly affect the reduction of interest rates in the economy. A similar opinion on June 25 from the  rostrum of the National Assembly of Armenia, answering the questions  of the deputies, was expressed by the Chairman of the Central Bank of  the Republic of Armenia Martyn Galstyan.

S&P expects deterioration in asset quality of Georgian and Armenian  banks in 2020-2021
 Thursday, June 25 2020 16:53

ArmInfo. An unfavorable economic situation will lead to a decrease in the quality of the assets of the banking systems of Georgia and Armenia and a possible outflow of deposits of non-residents from Armenian banks. This was reported by IA "Finmarket", referring to a review of the international rating agency  S&P Global Ratings.

ACBA-Credit Agricole Bank attracts USD 20 mln loan from EBRD to  finance enterprises affected by COVID-19
 Thursday, June 25 2020 15:50

ArmInfo. ACBA-Credit Agricole Bank has signed a loan agreement with the European Bank for Reconstruction and Development (EBRD) for $ 20 million, which will be used to finance micro, small and medium-sized enterprises affected by COVID-2019.

Deputy Minister: All financial risks in Armenia are manageable
 Wednesday, June 24 2020 12:06

ArmInfo.All financial risks in Armenia are manageable.  Deputy Minister of Finance of Armenia Armen Hayrapetyan stated this on June 24 from the rostrum of the National Assembly of the Republic of Armenia submitting an agreement with the International Monetary Fund for ratification.

Converse Bank․ Eurnekian School graduates receive scholarships from Mr. Eurnekian and companies under his management
 Tuesday, June 23 2020 12:38

ArmInfo.The representatives of Converse Bank transferred to the graduates of Eurnekian Secondary School of the Mother See of Holy Etchmiadzin the scholarships accumulated during their studies. On an annual basis Scholarships are awarded to schoolchildren by Eduardo Eurnekian and the companies under his management in Armenia, including the Bank. Students receive the accumulated funds with Converse Bank payment cards upon their graduation from school.



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