Armenia's Central Bank says situation is "manageable" as dram keeps fallingApril 6, 2021 - 13:53 AMT PanARMENIAN.Net - The Central Bank believes the situation in the country is manageable, as the Armenian dram keeps weakening against the dollar. Deputy Chairman of the Central Bank Nerses Yeritsyan said Tuesday, April 6 that "no uncontrollable inflation" is expected in Armenia. "The situation is manageable, otherwise I would have asked someone to take my place here," Yeritsyan told a meeting of the Parliamentary Committee on Financial-Credit and Budgetary Affairs. He did admit, though, that the dollar continues to grow against the dram, which leads to an increase in prices, especially for imported goods. "Nevertheless, this is a global process, the dollar is growing against all currencies of the world," Yeritsyan noted. In mid-March, the Central Bank left the current refinancing rate unchanged. It was raised by 1 percentage point in December and then again by 0.25 percentage point in February to stands at 5.5%. 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 | Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |