YEREVAN, October 28. /ARKA/. Armenia’s gross international reserves meet all sufficiency criteria more than needed, the Central Bank of Armenia says in its ‘Adequacy of Armenia’s International Reserves’ study.
According to the central bank’s preliminary figures, the country’s gross reserves totaled $1 663 million in late September after shrinking 8.4% over the third quarter.
Import coverage indicator financed by international reserves made 4.2 months, the ratio of reserves to the short-term debt was 4.4, and the ratio of international reserves to money stock in drams was 0.8.
“Armenia’s international reserves are superabundant and give no grounds for anxiety,” the regulator says in its report.
In the international practice, requirements to outside reserves depend on a country’s ability to stand payment balance shocks.
Criteria for gauging adequacy of international reserves are the three-month import coverage indicator, the foreign debt repayment result for one year and the ratio of reserves to the aggregate monetary stock. –0–
