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EVEN IF REDUCED BY 1% CENTRAL BANK'S REFINANCING RATE MIGHT HELP ARMENIAN EXPORTERS TO RECOVER FROM THEIR LOSSES
arminfo
Wednesday, October 24, 12:02
Even if reduced by 1% the Central Bank's refinancing rate might help
the Armenian exporters to recover from their losses, Development
Manager of Ameriabank Tigran Jrbashyan said during a press-conference
on Tuesday.
He thinks that the reduction is possible if not prevented by the new
foreign exchange policy. "For many years we have witnessed seasonal
foreign exchange fluctuations in Sept-Dec, but this year's change in
the currency market model has messed up all forecasts. So, I would
advise the Central Bank to revise its rate," Jrbashyan said.
Concerning Armenia's jump on the Doing Business 2013 rating, Jrbashyan
said that this is one of the biggest jumps in the history of the
rating. "This achievement may help us to improve our image abroad
provided that we turn it into long-term economic benefits. The jump
indicates that there have been certain reforms, but this is not the
only factor we need to ensure our long- term economic development,"
Jrbashyan said.
Armenia is the 32nd among 183 countries on the Doing Business 2013
rating. Last year it was the 50th.
Oct 9 the Central Bank of Armenia decided to keep its refinancing
rate unchanged at 8%. The last time the rate was changed Apr 12 2011,
when the CB reduced it from 8.5% to 8%.
arminfo
Wednesday, October 24, 12:02
Even if reduced by 1% the Central Bank's refinancing rate might help
the Armenian exporters to recover from their losses, Development
Manager of Ameriabank Tigran Jrbashyan said during a press-conference
on Tuesday.
He thinks that the reduction is possible if not prevented by the new
foreign exchange policy. "For many years we have witnessed seasonal
foreign exchange fluctuations in Sept-Dec, but this year's change in
the currency market model has messed up all forecasts. So, I would
advise the Central Bank to revise its rate," Jrbashyan said.
Concerning Armenia's jump on the Doing Business 2013 rating, Jrbashyan
said that this is one of the biggest jumps in the history of the
rating. "This achievement may help us to improve our image abroad
provided that we turn it into long-term economic benefits. The jump
indicates that there have been certain reforms, but this is not the
only factor we need to ensure our long- term economic development,"
Jrbashyan said.
Armenia is the 32nd among 183 countries on the Doing Business 2013
rating. Last year it was the 50th.
Oct 9 the Central Bank of Armenia decided to keep its refinancing
rate unchanged at 8%. The last time the rate was changed Apr 12 2011,
when the CB reduced it from 8.5% to 8%.