Armenia moves to ban foreign currency home loansMarch 22, 2023 - 13:02 AMT PanARMENIAN.Net - Armenia has decided to ban foreign currency mortgages. The National Assembly on Tuesday, March 22 approved amendments to the law, which were submitted by lawmaker Gevorg Papoyan from the ruling Civil Contract party. The deputy noted that the political majority is intending to fight against "dollarization" and "currency mentality" more decisively, given the need to ensure stability in the financial system and the risks causing economic, political and financial instability observed in the world. Deputy Chairman of the Central Bank Hovhannes Khachatryan supported the decision, maintaining that the legislative initiative will allow Armenian citizens to avoid difficulties in the future. Under new regulations, residents who don’t have foreign currency incomes should not receive loans in foreign currency. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. Azerbaijan razes historic Armenian church to ground Azerbaijan has demolished the historic Armenian Church of St. John the Baptist (known as Kanach Zham). Turkey extends military presence in Azerbaijan The Turkish parliament has adopted a bill submitted by Recep Tayyip Erdogan to extend the mandate of Turkish troops. |