Armenia moves to ban foreign currency home loansMarch 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 | 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. |