Nienke Oomes: CBA takes a pause

PanARMENIAN.Net - The Central Bank of Armenia is waiting for the economic situation to clear up, said Nienke Oomes, IMF Resident Representative in Armenia.



"I positively assess the CB policy. Economy is being stabilized and maybe the CB will reconsider its position in a month," Ms. Oomes told a PanARMENIAN.Net reporter.



She also emphasized that Armenia's economy strongly depends on Russia's.



As to the crediting system, Ms. Oomes remarked that commercial banks do not allow credit as they fear not to get the funds back. "Crediting by commercial banks will be possible if the country's economy is stabilized," she said.