Government pledges to protect all deposits

The current developments on the financial market are mainly connected with global and regional developments not exempt from obvious speculative elements, Armenian Prime Minister Hovik Abrahamyan said in a statement.

“In the light of such spontaneous global trends, the Armenian Government remains committed to the policy of floating exchange rate, which is necessary for avoiding long-term instability,” he said.

“The Government supports the efforts of the Central Bank of Armenia targeted at maintaining the stability of the financial system and takes all measures to ensure the normal activity of the system and protect the rights and interests of legal entities and citizens,” the Prime minister added.

According to him, “all depositors should be confident that the Republic of Armenia has a guarantee system of active deposits, that both the Central Bank and the Government are doing and will be doing the best to protect the deposits of the citizens.”

“The Government keeps in touch with its international partners and is confident that with joint efforts and sober reasoning we’ll manage to ensure stability on the financial and consumption market and restrain the senseless rise of prices of consumer goods,” PM Hovik Abrahamyan said.

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