Armenia has not joined the Western anti-Russian sanctions, but it complies with them. This was stated by Garegin Gevorgyan, Director of the Stability and Regulation Department of the Financial System of the Central Bank of Armenia at the investment and financial forum on March 5.
"Armenia has not joined the sanction programs, but carefully monitors them, strictly observing their regulations," said Garegin Gevorgyan, noting that Armenia wishes to become a regional hub for trading foreign securities.
He expressed the country's interest in active development of capital markets, emphasizing the importance of establishing a strong foundation, starting with the creation of a local currency market. "Armenia lacks the necessary tools to determine short-term prices for the dram, the national currency," explained Garegin Gevorgyan, nevertheless, he praised the stability of the Armenian dram over the past 30 years, considering it one of the most stable currencies in the world.
According to him, Armenia has not experienced serious consequences of inflation or deflation. Gevorgyan also spoke about their risk management methodology, noting that they adapt to various economic challenges, be it deflation or inflation, without changing their approach.
In addition, he announced that Armenian investors are ready to invest around 500 million euros in the capital market through pension funds provided there are corresponding securities. He emphasized that this investment potential comes from local retail investors, indicating strong demand within the country.
