16:48,

YEREVAN, APRIL 15, ARMENPRESS. Armenia’s financial system is quite liquid, is ready to serve the economy at any moment, however, the Central Bank will ensure the system with additional liquidity in case of necessity, Director of the Financial Stability Department at the CBA Andranik Grigoryan said at a press conference.

“We once again announce that despite the fact that our financial system is quite full of capital, is quite liquid and ready to serve the economy at any moment, under any development, we, as the Central Bank, have announced and once again reaffirm that we are ready to provide the financial system with a respective liquidity in case of necessity”, he said.

The CBA official said before the coronavirus there were very good grounds for the financial system so that the system tries to help the economy, clients through numerous steps to overcome the current coronavirus-related crisis. He reminded that the Union of Banks issued a statement according to which all banks and credit companies are ready to work with clients with a personal approach in order to revise their loan repayment terms, extend the deadlines, etc. At the same time, in order to further boost the economy’s funding by the banks, the Central Bank reduced the refinancing rate by 0.25 percentage point.

Reported by Anna Grigoryan

Edited and translated by Aneta Harutyunyan