Azerbaijan not among top 50 countries in terms of remittances to and from Armenia –
Central Bank

YEREVAN, 18 June. /ARKA/. Azerbaijan is not among the top 50 countries in terms of money
transfers to and from Armenia, Chairman of the Armenian Central Bank Martyn Galstyan said
last week when taking answers from MPs.
Galstyan said a similar question had been addressed to the Central Bank by an MP Garnik
Danielyan from the opposition Hayastan (Armenia) bloc.
“Taking into account the absence of this country in the list, we can assume that the volume of
remittances is either very small or completely absent,” Galstyan said.
He recalled a case that caused a great resonance a few years ago involving a money transfer
between the two countries.
“I can’t remember exactly in which direction the money was transferred, but I remember that the
money transfer was made by one of the international organisations,” the Central Bank head
added.
According to the Central Bank, the net inflow of private (non-commercial) cross-border money
transfers to Armenia through the banks in January-April 2024 amounted to $327.5 million
against $719.7 million in the first four months of 2023.
At the same time, in April of this year about $49 million were remitted to Armenia, down from
$166.5 million remitted in April 2023.-0-.