YEREVAN, April 20. /ARKA/. The central bank’s activity should be audited, and first of all the financial resources attracted by the system, Ara Nranyan, deputy chairman of Armenia’s Parliamentary Oversight Chamber, said Tuesday.
Nranyan pointed out that German-Armenian Fund has attracted about $400 million, but not a single organization can check how they have been spent.
«Very often loans are extended to Armenia at quite low interest rates, but these financial resources are lent to small and mid-scale businesses at far higher interest rates, up to 20%,» he said pointing out the necessity of elaboration of a new legislative package for providing new powers to the oversight chamber to audit the entire public sector. –0—-
