We are clearly facing very serious and existential challenges, says Pashinyan

Prime Minister Nikol Pashinyan visited the Central Bank and participated in the reception organized for the upcoming New Year and Christmas. The event was attended by President Vahagn Khachaturyan, National Assembly Speaker Alen Simonyan, Deputy Prime Ministers Mher Grigoryan and Tigran Khachaturyan, Chief of Staff to the Prime Minister Arayik Harutyunyan, government members, parliamentarians, and representatives from the Central Bank and the financial-banking system.

During his speech, Prime Minister Pashinyan stated: “Regarding the banking system, I would like our cooperation with the Central Bank to develop in two directions. I must note that the word cooperation is very appropriate because there are things that are simply not noticed, and this must be acknowledged. For example, it is crucial to state today that the government does not interfere in the Central Bank's policy, meaning that the Central Bank makes its decisions precisely in accordance with the Constitution and laws of Armenia, which does not imply that there is no communication between the Central Bank and the government; the opposite would be disastrous because we are implementing many programs together. Furthermore, we are now, so to speak, delegating another function to the Central Bank, and I hope that the digitization agenda will indeed progress with visible steps in this regard. This is about implementation, as policy development is within the purview of the government,” said Pashinyan.

He also noted: “I want to remind that in January 2020, there was a Eurobond issuance, which was the first very serious signal for everyone that the Republic of Armenia is a place where investment can be made. Sometimes we do not consider, discuss, or fix these facts, but they speak volumes. Of course, this does not mean that we should be detached from reality. It is clear that we are facing very serious and existential challenges, but there is no possibility for a one-dimensional resistance to these challenges, and that is a wrong approach. All systems, all institutions in the country must stabilize, become more and more successful and functional, and the culmination of increasing the effectiveness of all institutions should become the mechanism and tool for overcoming the most important challenges,” emphasized the Prime Minister of Armenia.