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Zhamanak: When Banks Will Reduce Interest Rates For Loans?

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  • Zhamanak: When Banks Will Reduce Interest Rates For Loans?

    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
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