BANKING SYSTEM OF ARMENIA IS CAPITALIZED ENOUGH TO WITHSTAND CRISIS

PanARMENIAN.Net
15.09.2009 15:11 GMT+04:00

/PanARMENIAN.Net/ Banking system of Armenia is capitalized enough to
withstand financial crisis in Armenia, undergoing the worst stage
of crisis, HSBC Bank Armenia Chief Executive Officer Tim Slater
believes. In this context, he added that only Latvia’s and Lithuania’s
economy is in a worst state than Armenian is.

At the same time , Slater noted that anti-crisis measures realized
by RA government, including crediting provided by international
structures, will expedite overcoming of financial crisis
consequences. "Russian economy’s stabilization will also positively
influence economic situation in Armenia."