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

Acba Bank and EFES launch a unique service in Armenia (VIDEO)

Acba Bank and EFES Insurance Company have introduced a unique service in Armenia – account insurance, which compensates for the loss of funds from clients' cards or accounts due to cyber fraud, the bank's press service reported.

Inflation in Armenia rose in April amid tensions due to the Middle East conflict and in supply chains – WB

Inflation in Armenia continued to rise in April amid tensions due to the Middle East conflict and in supply chains, according to the World Bank's "Armenia Monthly Economic Update – May 2026."

Love Is… card from Unibank can win a trip to Paris

In December 2026, Unibank will summarize the results of a campaign held among holders of the limited-edition Love Is… card series and will raffle a romantic trip for two to Paris. 

In Armenia, commercial bank deposits grew by 2.2% and lending by 1.6% in March — World Bank

In March, commercial bank deposits increased by 2.2% (MoM), while lending grew by 1.6% (MoM), according to the World Bank's "Armenia Monthly Economic Update – May 2026."

Net non-commercial remittances in Armenia accelerated to 11.7% in March – WB

Net non-commercial remittances in Armenia increased by 11.7% year-on-year in March, following a 5.2% year-on-year increase in February, according to the World Bank's "Armenia Monthly Economic Update – May 2026."

LATEST NEWS

spot_imgspot_imgspot_img