 Armenia moves to ban foreign currency home loans March 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 |  Latest news Viva sees growing demand for cloud services  In recent years, medical institutions are starting to make use of Viva’s cloud servicesTurkey replacing term "Central Asia" with "Turkestan" in textbooks The Turkish Ministry of Education is replacing the term "Central Asia" with "Turkestan" in textbooks.Armenian, German presidents meet in Berlin Armenian and German Presidents Vahagn Khachaturyan and Frank-Walter Steinmeier met in Berlin.Armenia assumes presidency of Mediterranean Network of Regulatory Authorities The Commission on Television and Radio of Armenia said it expects productive cooperation in various formats. |
