Provided a small monetary base in Armenian commercial banks, a certain hedging instrument is reqiured for Armenia, Chief Executive Officer of ACBA-CREDIT AGRICOLE BANK Stepan Gishyan said.

According to him, international hedge funds experienced difficulties during the crisis and 2009 was not the best year for establishing such a fund in Armenia. "Armenia's monetary base is not sufficient yet, and banks are forced to attract cash in foreign currency to meet the credit needs of its customers,'' he said.