Armenian banks experience no problems with banking operationsMarch 21, 2009 - 19:19 AMT PanARMENIAN.Net - The global economic crisis and recent dram devaluation caused banking activity decay.Meanwhile, Ashot Hovsepyan, President of Ararat Bank said the bank allocated mortgage credit to the amount of 35 million drams during this week. "There are no reasons to worry. Armenian banks experience no problems with banking operations," he told reporters on Saturday. "Competition between the banks and assessment of risks will result in decrease in banking credit rate." He also said that the dram-to-dollar rate has lowered by the end of the week. 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 | Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. Pashinyan visits flood-hit region Armenian Prime Minister Nikol Pashinyan on Saturday, June 8 visited the disaster area in the Lori province. €3.5 mln EU grant to support justice reforms in Armenia The European Union has paid €3.5 mln grant to Armenia within a €11mln program on Support to Justice Reforms. Yerevan reacts to Baku’s proposal to see Minsk Group abolition Alen Simonyan has declared that Armenia is taking steps aimed at concluding a peace treaty with Azerbaijan. |