Time in Yerevan: 11:07,   8 May 2024

Nagorno-Karabakh experiences cash shortage

Nagorno-Karabakh experiences cash shortage

YEREVAN, AUGUST 7, ARMENPRESS. A shortage of banknotes has emerged in Nagorno-Karabakh as a result of the Azerbaijani blockade, the Nagorno-Karabakh Ministry of Finance and Economy said Monday.

In a statement, the Ministry of Finance and Economy of Nagorno-Karabakh asked citizens to cash-out money from banks only in essential cases and deposit cash savings.

“A problem of cash [dram banknotes] has emerged in Artsakh [Nagorno-Karabakh] because Artsakh has been under blockade since 12 December 2022, while humanitarian shipments have been completely suspended since 15 June. In order to implement the social assistance programs envisaged under the Artsakh Republic government’s decisions, as well as to ensure the payments of salaries, pensions and the course of domestic money circulation, we are asking everyone to withdraw money saved in bank accounts only in essential cases (a limit of withdrawal is also enforced), and to deposit available cash in bank accounts. Please support the state to be able to jointly overcome the grave difficulties facing the people of Artsakh,” the ministry said.








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