International experts discuss monetary policy tools in ArmeniaApril 30, 2011 - 10:17 AMT PanARMENIAN.Net - A high-level workshop hosted by the International Monetary Fund (IMF), the Central Bank of Armenia (CBA), and the European Bank for Reconstruction and Development (EBRD) in Yerevan on April 27, and in Tshaghkadzor on April 28–29, considered ways to improve monetary policy tools and central bank instruments in support of implementation of a modern monetary framework of inflation targeting (IT). Strengthened IT regimes - which include clear and consistent policy objectives and robust central bank operational independence, communications, and accountability - can help better anchor expectations about future inflation and contribute to dedollarization, stronger local currency markets, reduced uncertainty, and less severe boom-bust cycles. The workshop brought together representatives from the central banks of Albania, Armenia, Belarus, the Czech Republic, Georgia, Hungary, Kazakhstan, Moldova, Mongolia, Norway, Poland, Russia, Serbia, Tajikistan, and Ukraine, as well as staff from the IMF and the EBRD, and international modeling and forecasting experts. To help frame the discussion, policymakers from central banks with more extensive practice in the application of IT (the Czech Republic, Hungary, and Poland) shared their experiences thus far. The workshop will continue in Tshaghkadzor, April 30–May 6, with a technical segment offering specialized training in the development and use of modeling and forecasting tools in support of an IT regime, IMF said in a press release. 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 | Turkey condemns Uruguay’s recognition of Armenian Genocide Turkey has condemned a newly passed law in Uruguay that recognizes the Armenian Genocide, TRT reports. For the first time, Armenia votes in favor of Georgia resolution in UN Armenia on Tuesday, June 4 voted for the first time in favor a resolution adopted by the United Nations General Assembly. Moscow warns Armenia against leaving Russian-led defense bloc Armenia could ruin its military ties with Russia if it continues drifting towards the West, according to a senior official in Moscow. Moscow says ready to support Yerevan-Baku reconciliation Moscow has confirmed its readiness to support the reconciliation of Yerevan and Baku. |