Armenia's Central Bank says situation is "manageable" as dram keeps fallingApril 6, 2021 - 13:53 AMT PanARMENIAN.Net - The Central Bank believes the situation in the country is manageable, as the Armenian dram keeps weakening against the dollar. Deputy Chairman of the Central Bank Nerses Yeritsyan said Tuesday, April 6 that "no uncontrollable inflation" is expected in Armenia. "The situation is manageable, otherwise I would have asked someone to take my place here," Yeritsyan told a meeting of the Parliamentary Committee on Financial-Credit and Budgetary Affairs. He did admit, though, that the dollar continues to grow against the dram, which leads to an increase in prices, especially for imported goods. "Nevertheless, this is a global process, the dollar is growing against all currencies of the world," Yeritsyan noted. In mid-March, the Central Bank left the current refinancing rate unchanged. It was raised by 1 percentage point in December and then again by 0.25 percentage point in February to stands at 5.5%. 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 | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |