Tue, 10 June
25.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

Artsakh investment funds suspend accrual of interest and penalties on loans

YEREVAN, January 30. /ARKA/. In a bid to ease the financial crisis in Artsakh (Nagorno-Karabakh) caused by Azerbaijan’s blockade of the only road connecting Artsakh with Armenia, the Artsakh Investment Fund and the Artsakh Rural and Agricultural Support Fund decided to temporarily stop accruing  interest and penalties on obligations to the funds until February 1, 2023.

The decision does not cover the loans with liabilities over 100 million drams, as well as the loans provided after December 12, 2022.

Routine shipments of basic supplies, medicines, and food on which Nagorno-Karabakh is utterly dependent have remained completely shut off since last December 12 when Azerbaijan blocked the only road linking Karabakh and Armenia.

A handful of International Red Cross humanitarian convoys have been allowed to take medicines and some food from Armenia. The situation has become untenable for the 120,000 Armenians of Nagorno-Karabakh.

Azerbaijani president Ilham Aliyev said earlier the road out was open to any Nagorno-Karabakh Armenian who wished to leave.-0-

spot_img

POPULAR

Euro and ruble exchange rates to the Armenian dram fell, the dollar rose

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 6, 2025, increased by 0.06 points compared to June 5 and amounted to 383.46 drams.

Mechanism to stimulate cashless payments to be developed in Armenia

On Friday, the Armenian government held a meeting on issues related to stimulating cashless payments in the country.

Dollar and euro exchange rates to the Armenian dram fell again, while the ruble rose

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 4, 2025, fell again by 0.1 points compared to June 3 and amounted to 383.76 drams.

AMX introduces remote membership model, opening doors to international investors

The Armenia Securities Exchange (AMX) and the Central Depository have introduced a Remote Membership model, which is aimed at providing access to foreign investors to the Armenia Securities Exchange, the press service of the exchange reported.

Average settlement exchange rate of dram to dollar in May was 0.3% lower than a year ago

In May 2025, the average settlement exchange rate of the Armenian dram to the US dollar was 386.6 drams, which is 0.3% lower than the same indicator in May 2024 (387.8 drams).

LATEST NEWS

spot_imgspot_imgspot_img