YEREVAN, January 29. /ARKA/. The refinancing rate in Armenia has returned to the level of August 2022, according to the World Bank’s review Armenia Monthly Economic Update – January 2025.
“On December 10, 2024, the Board of the Central Bank of Armenia reduced the refinancing rate by 25 bps to 7 percent, resulting in a cumulative reduction of 225 bps in 2024,” the review said.
The cycle of refinancing rate cuts has lasted in Armenia since June 2023, with the Central Bank lowering the rate 13 times in a row from 10.5% to the current 7%.
According to the review, net non-commercial money transfers fell 14.3 percent (mom) in November. Net inflows decreased (mom) from all sources, including Russia (6.2 percent, mom), the United States (6.4 percent, mom), and other countries (69 percent, mom).
Compared with November 2023, net inflows were 21.7 percent (yoy) lower, mainly due to a decline in net inflows from Russia.
According to the Central Bank, the net inflow of cross-border money transfers in November 2024 amounted to $76.4 million, including $40.1 million of non-commercial money transfers.-0-
