YEREVAN, October 10. /ARKA/. Loan interest rates may remain unchanged in Armenia, member of Ameriabank CJSC Managerial Board Ruben Vardanyan told ARKA on Thursday.
Cost of money depends on various factors, and Armenia is dependent on global environment in this respect, Vardanyan said pointing to strong intelinkages in current economic developments in former USSR countries.
Yet, Vardanyan said, Armenia suffers no direct dependence.
“There is an opportunity to get money not only from Russian sources, but also from international institutions”, he said. This means Armenia has a fair chance to keep the rates unchanged if a correct monetary and credit policy is pursued, he said.
Since the beginning of 2014 Armenia’s central bank has lowered the refinancing rate four times, from 7.5% to 6.75%. In last review of September 23 the bank kept the rate unchanged.
According to the central bank, average rates for up to one year loans are 17.12% for drams loans and 9.96% for dollar loans. For loans for more than one year the rates are 17.68% and 12.35% respectively. –0–
