ARMENIAN PRIME MINISTER: IT IS IN INTERESTS OF ARMENIA TO INTRODUCE THE REGIONAL CURRENCY AMONG CIS COUNTRIES

Regnum
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Feb 10 2009
Russia

Armenia is committed in introduction of the regional currency among CIS
countries, said Tigran Sargsyan, the Armenian Prime-minister in program
"Together" on MIR TV. "We have a whole package of suggestions on this
subject, in particular, how it can be done. And what is interesting,
that the Central Bank of Armenia proposed this amendment three years
ago", — stressed the Armenian premier.

Sargsyan underlined, that a project is on the table of the CIS
Intergovernmental Bank. According to him, this bank, where are
represented all CIS countries’ Central Banks could be an appropriate
instrument.

"In case the Central Banks will use these currencies and consider
them as own reserve currencies, it will be the first step towards
calculations in rubles between CIS countries, and in its turn,
it means, that the Central Bank of Armenia will have to recognize
ruble as its reserve currency. Hereinafter, our commercial banks can
maintaine a ruble accounts in Armenian Central Bank and so on. It
is quite a logical scheme, and Armenia is very interested ruble to
become a currency, to carry out a transaction not only with Russia
but also with CIS other countries. We will make every effort to turn
it to reality", — said Sargsyan.