Armenian economist Carlos Melconian was appointed as President of the National Bank of Argentina on Wednesday December 23, reports.

Stressing that the Bank of the Argentine Nation “will take a more prominent role as a development bank,” Melconian began his tenure after being appointed by the newly elected President Mauricio Macri.

In 1980s Melconian worked in the Central Bank of Argentina and then as a private consultant at the World Bank, among others.