Armenia’s banking system is stable, faces no problem – CBA President

YEREVAN, MARCH 16, ARMENPRESS. Armenia’s financial system is functioning normally, the banking system has a high level of liquidity which is more than enough for organizing the smooth and normal operation of banking system, Prime Minister Nikol Pashinyan said during today’s emergency meeting of the Cabinet.

“At the same time, in case of necessity the Central Bank is ready to provide additional liquidity to the financial system both with dram and foreign currency”, the PM said.

President of the Central Bank Artur Javadyan said there is no problem with the banking system in Armenia. He said the facts also prove this. “From the very start we had some ups and downs under certain statements, had an unstable situation in the market, but now the situation is completely under control and stable”, he said.

The Armenian government approved today the bill on declaring 30-day state of emergency over the novel coronavirus.

So far, the total number of confirmed coronavirus cases in Armenia is 30, one patient has recovered.

Edited and translated by Aneta Harutyunyan