Tue, 29 April
19.1 C
Yerevan
USD: 389.46 RUB: 4.73 EUR: 441.92 GEL: 141.70 GBP: 519.38
spot_img

Arpine Hovhannisyan unhappy about central bank’s support for Armenian prime minister’s initiative

YEREVAN, March 18. /ARKA/. Arpine Hovhannisyan, former vice-speaker at the Armenian parliament and former justice minister, has accused the Central Bank of Armenia of undermining Prime Minister Nikol Pashinyan’s rule by supporting his initiative of seizure of illegally acquired property without charge or trial.

On March 1, 2019, she said, Pashinyan established a working group to organize discussions for putting the concept worked out by the central bank into practice.

Hovhannisyan wrote on her Facebook page that nobody has taken any notice of this news, while this is “a delayed-action bomb not only for Armenia’s statehood, but also for Nikol Pashinyan’s rule”.

Prime Minister Nikol Pashinyan wants to return stolen property and financial resources and use them for developing the country.

Hovhannisyan declared on her Facebook page that “she finds this intention good”, but she is unhappy about the proposed scheme.

In her opinion, not only criminals, but also persons in Armenia and abroad who have nothing in common with them will face problems.

She also said that the existence of such institutions would show “the law enforcement agencies’ disability to prove something by opening criminal cases”.

Harut Berberyan, the regulator spokesman, responding to Arpine Hovhannisyan’s attack, reminded her that the central bank is an independent organization and pointed out that her stern wording irrelevant to things.

In its statement, the central bank says that the concept is completely in tune with the Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism, which was ratified by Armenia in 2008 without any reservations.

The institution of property seizure without charge or trial is described also in the United Nations Convention against Corruption, which was ratified in Armenia in 2017.
Besides, the Financial Action Task Force on Money Laundering says in its recommendations gives clear requirements to the institutions.

The Central Bank of Armenia says in its statement that such institutions had been introduced either by many countries, including Georgia, Russia, Italy, the Great Britain and the United States and their introduction in Armenia will be based on the international experience. -0—

spot_img

POPULAR

Euro exchange rate down 1 point, while US dollar and ruble up

The average market exchange rate of the U.S. dollar to the Armenian dram on April 25, 2025, rose by 0.77 points compared to April 23 and amounted to AMD 390.33.

Armenia may access $25 mln from the IMF under the SBA agreement in June

An International Monetary Fund (IMF) team led by Iva Petrova visited Yerevan from March 31 to April 10, 2025, to conduct discussions for the fifth review under the Stand-By Arrangement (SBA) with Armenia.

In Armenia, remittances have begun to recover after a 35% decline in 2024

On the demand side, average real wages in Armenia have increased in 2025, and net money transfers have shown an upward trend, contributing to consumption growth, according to the World Bank's Armenia Monthly Economic Update – April 2025.

Instruments for supporting SMEs in Armenia were discussed with bankers at the Ministry of Economy

Financial instruments for supporting small and medium-sized businesses (SMEs) were discussed by Deputy Minister of Economy of Armenia Lilia Sirakanyan and bank representatives.

Armenia ratifies EUR 10.1 million investment agreement with EIB on Yerevan’s Second Energy Efficiency Program

The Armenian Parliamentary Committee on Financial, Credit and Budgetary Affairs gave a positive conclusion at its meeting on Friday on the ratification of the agreement on the investment grant for the "Second Yerevan Energy Efficiency Program" in the amount of EUR 10.1 million.

LATEST NEWS

spot_imgspot_imgspot_img