Dram stability in conditions of domestic political tension is result of peaceful course of processes and sufficient reserves
YEREVAN, MAY 5, ARMENPRESS. The peaceful process of political developments and the sufficiency of Armenia’s currency reserves contributed to the maintenance of the stability of the Armenian dram in the conditions of current domestic political tension, economist Atom Margaryan told reporters, Armenpress reports.
“Our economic system has a stability reserve, in budgetary, deficit financing terms, as well as in terms of stabilizing the dram exchange rate and positioning of the Central bank and the banking system. I think in such circumstances there will be no major risks in connection with the dram and the exchange rate”, the economist stated.
He said the same applies to the country’s foreign current bonds. In this regard he highlighted the stability of the curve of the exchange rate and profitability of Armenia’s Eurobonds.
“The expectations among foreign donors – international financial structures, corporations, which take the Eurobonds and finance our foreign debt and state budget deficit with attractive terms, have not changed. There are no such changes as of now. Quite the contrary, if we look at the reactions of international rating organizations, we will see a very positive reaction”, the expert said.
According to Atom Margaryan, in case of the peaceful course of the situation, there will be no occasion for financial markets to suffer shocks.
English –translator/editor: Aneta Harutyunyan