Armenian president responds to World Bank Yerevan office head’s statement about second wave of crisis

JERMUK, October 11. / ARKA /. Speaking Monday at the forum of Armenia’s rural communities in the resort town of Jermuk Armenian president Serzh Sargsyan responded to a statement made by World Bank Yerevan Office head, Jean-Michel Happi, about an impending second wave of the global crisis.

Speaking at the opening of the forum Mr. Happi said that Armenia is facing the threat of the second wave of financial crisis that is threatening also the eurozone.

“These people (forum participants) may think that the crisis has already arrived and is knocking on our door, that we are faced with challenges and so on. I want you to tell them that no one has determined that the second world financial crisis has come and is threatening us with God knows what. Such statements may form negative expectations,” Sargsyan said addressing Mr. Happi.

“We have got used to confront financial challenges and keep on working,” said the president, thanking the World Bank Yerevan Office head for the warning. Sargsyan also said that all the achievements Armenia recorded over the past 20 years are inextricably linked with the World Bank. -0-

spot_img

POPULAR

VTB (Armenia): “Stable” Deposit – Up to 10% Per annum and Opening via Mobile App

Retail clients of VTB (Armenia) can open a "Stable" deposit at a rate of up to 10% per annum when deposited in the national currency for a term of 12 months.

It is now possible to register in Unibank’s mobile application through imID as well

Unibank continues to expand its digital service capabilities by offering customers another convenient option for registering in the UNIMobile application.

World Bank does not see significant risks in Armenia’s public debt rising to 50% of GDP

Armenia's public debt could increase to approximately 50% of GDP by the end of 2026, but the World Bank does not view this level as a significant threat to the country's macroeconomic stability, said Armine Manukyan, Senior Economist at the World Bank.

Armenian banks’ capital amounted to nearly 2.23 trillion drams at the end of June, representing a 13.63% increase year-on-year

The total capital of Armenian banks as of June 30, 2026, amounted to 2 trillion 226.85 billion drams, an increase of 13.63% compared to June 30, 2025, and a decrease of 3.13% compared to March 31, 2026.

Changes in Byblos Bank Armenia’s Executive Management

Byblos Bank Armenia CJSC announces that the Bank’s Chief Executive Officer Hayk Stepanyan will conclude his tenure with the Bank effective August 1, 2026.

LATEST NEWS

spot_imgspot_imgspot_img