Sun, 24 August
30.1 C
Yerevan
USD: 384.03 RUB: 4.80 EUR: 443.29 GEL: 142.29 GBP: 510.11

Finance Minister States Condition for Improving Armenia’s Country Rating**

YEREVAN, May 2. /ARKA/. Armenia’s Finance Minister, Vahe Hovhannisyan, addressed concerns regarding the stagnation of the country’s credit rating despite positive financial indicators reported by the government over the past seven years.

Hovhannisyan noted that the reasons for the rating’s lack of change are complex. While there was an improvement in ratings during 2022-2023, recent discussions with investors ahead of the planned Eurobond issuance in March 2025 raised questions about the current “BB-” rating.

“In our view, the main factor impacting our rating is the geopolitical situation,” he explained during a press conference on Friday.

He added that progress in the country’s rating is anticipated upon the signing of a peace treaty with Azerbaijan.

“Once that happens, we are confident that our rating will improve,” Hovhannisyan stated.

Fitch Ratings confirmed on January 28, 2025, Armenia’s long-term foreign currency Issuer Default Rating (IDR) at ‘BB-’ with a ‘Stable’ outlook.

Meanwhile, Standard and Poor’s (S&P) reaffirmed Armenia’s long-term/short-term sovereign credit ratings on foreign and local currency obligations at ‘B-’/’B’ with a ‘Stable’ outlook on February 26, 2024.

Additionally, Moody’s Investors Service maintained Armenia’s Ba3 sovereign rating with a negative outlook as of March 2022.-0-

spot_img

POPULAR

Armenia registered an inflation rate of 3.4% in July.

According to the National Statistical Committee (NSC) of Armenia, 12-month inflation in the consumer market amounted to 3.4% in July of this year.

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Unibank Issued Preferred Shares with a Fixed Annual Dividend of 12%

Unibank announces a new issue of Class “G” convertible preferred shares, offering investors a fixed annual dividend of 12%. The total issue volume amounts to AMD 1.5 billion.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

LATEST NEWS

spot_imgspot_imgspot_img