Bagrat Asatryan: CBA made interventions at amount of $150mln in 2010

PanARMENIAN.Net - Former chairman of the Central Bank of Armenia (CBA) Bagrat Asatryan said that the CBA made interventions from external reserves at the amount of $150mln in 2010.

The CBA takes measures to suppress inflation, which are forbidden by the law, and despite these measures, when the national currency exchange rate grew by 10%, the inflation reached unprecedented 9.5% in 2010, Asatryan told a press conference on January 20.

“The CBA is charged with inflation suppression, while the country’s government does nothing for it and we lack a normal parliament to do something,” said Asatryan.

He thinks that in many years Armenia’s export will continue decreasing, while import – increasing. “We stated long ago that we are adhered to the national currency floating exchange rate, but we again resort to similar methods to suppress inflation,” Asatryan concluded.