ZHAMANAK: WHEN BANKS WILL REDUCE INTEREST RATES FOR LOANS?

10:21 02/10/2014 >> DAILY PRESS

A correspondent of Zhamanak newspaper asked deputy chairman of the
Central Bank of Armenia, ex-Minister of Economy Nerses Yeritsyan
when the banks will reduce interest rates for loans, because the
high interest rates hinder the development of business. The official
replied, "Are we prepared to invest our savings at lower interest
rates? When we solve this problem, then the banks can provide loans
at lower interest rates."

In response to the correspondent's observation that Armenia receives
cheap loans from foreign countries, Yeritsyan said, "When the risk
in our country adds to it, as a result of that, we have the current
interest rates."

Source: Panorama.am


From: Baghdasarian