 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 Protesters rally as Georgia debates 'foreign agent' bill  Georgian critics label the bill "the Russian law", comparing it to legislation used by the Kremlin to crack down on dissent.Azerbaijan, Jordan sign deal on defense cooperation Azerbaijan and Jordan have signed an agreement on cooperation in the field of defense, according to an official statement.First Canadian expert join EU mission in Armenia The first Canadian expert to join the European Union’s civilian mission in Armenia has arrived in Armenia.Armenian cemetery in Fresno hit by arsons six times since January Six total incidents have burned 19 old-growth trees. Friday night 8 trees were torched along the beautiful main entrance. |
