ARMENIAN GOVERNMENT SPECIFIES CENTRAL BANK’S REPORT SUBMISSIONS TO PARLIAMENT

ARKA
Jan 22, 2009

YEREVAN, January 22. /ARKA/. Armenian Government approved the
amendments to the country’s laws about the Central Bank, National
Assembly regulations and the budgetary system at its sitting Thursday.

The aim of the amendments is to specify the procedure for the Central
Bank to submit reports to the country’s parliament, the Chairman of
the Central Bank of Armenia (CBA) Artur Javadyan said.

Every year the CBA submits two reports to the parliament – on the
status of inflation in the first and third quarters. In 2008, the
report for the first quarter was submitted as late as in November
and the one for the third quarter has not been submitted yet,
Javadyan said.

Not only the technical norms, but also the submission deadlines will
be specified to avoid delays in consideration of reports, he said.