{"id":113856,"date":"2018-05-07T06:06:06","date_gmt":"2018-05-07T06:06:06","guid":{"rendered":"https:\/\/armbanks.am\/2018\/05\/07\/247405\/"},"modified":"2024-12-15T13:33:27","modified_gmt":"2024-12-15T13:33:27","slug":"financial-sector-of-armenia-is-sound-banks-are-well-capitalized","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2018\/05\/07\/113856\/","title":{"rendered":"Financial sector of Armenia is sound, banks are well capitalized"},"content":{"rendered":"

YEREVAN, May 7. \/ARKA\/.<\/strong> Recent mass protests in Armenia have raised concerns over soundness and stability of the country\u2019s financial system.<\/p>\n

On April 23, Serzh Sargsyan resigned as prime minister under the pressure of the protests.<\/p>\n

On the same day, Armen Sarkissian, Armenian president, accepted the government\u2019s resignation.<\/p>\n

In this connection, the Central Bank of Armenia (CBA), in its address to citizens, urged them to display restraint and not to fall into panic, since Armenia\u2019s financial system is effective and accomplished, and banks have sound liquidity.<\/p>\n

The regulator said in its statement that banks have no problems with cash liquidity \u2013 their reserves are sufficient, as never before.<\/p>\n

It also said that it keeps things under control and has enough instruments for ensuring stability in Armenia\u2019s financial system.<\/p>\n

The IMF Office in Armenia, on its side, has confirmed that the country\u2019s financial sector is reliable enough.<\/p>\n

\u201cIn our view, the financial sector of Armenia is sound. We see that the banking sector is well capitalized and has significant liquidity buffers, which make the banks more resilient to various shocks,\u201d Yulia Ustyugova, IMF Resident Representative in Armenia, told ARKA News Agency.<\/p>\n

Moreover, she said, the IMF assessment suggests that the CBA\u2019s international reserves are adequate, while the exchange rate has been relatively stable.<\/p>\n

\u201cIt is important to note, that the CBA is an autonomous institution that has financial stability among its two main objectives,\u201d Ustyugova said.<\/p>\n

\u201cThe CBA follows solid supervisory and regulatory practices to foster safe and sound banking system. And in fact, Armenia\u2019s banking system has a strong track record navigating through bumpy periods.\u201d –0—<\/p>\n","protected":false},"excerpt":{"rendered":"

Recent mass protests in Armenia have raised concerns over soundness and stability of the country\u2019s financial system<\/p>\n","protected":false},"author":1,"featured_media":157161,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,12139,9216],"tags":[15837,13876,319],"class_list":{"0":"post-113856","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banks-en-en","8":"category-economy-en","9":"category-news","10":"tag-armenia-2","11":"tag-financial-sector","12":"tag-319"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/113856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=113856"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/113856\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/157161"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=113856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=113856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=113856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}