Armenia to have record high international reserves by yearend, says cenbank chief

YEREVAN, OCTOBER 28, ARMENPRESS. Armenia’s 2019 international reserves will be the highest point ever, Central Bank President Artur Javadyan told reporters.

He said during the 9 months of the current year the international reserves already grew by 250,000,000 dollars.

“We have 250,000,000 dollars more in reserves compared to last year’s 9 months. We can project that at yearend our reserves will be more than in previous years. Even by not being optimistic, being realistic I can say that this year’s reserves will be the highest,” Javadyan said.

He said the big volumes of reserves shows that the country has a greater potential and opportunities. He said they’ve made certain changes in terms of mandatory reserves and as a result approximately 300 billion drams has been injected into the economy through banks.

Edited and translated by Stepan Kocharyan