Two People Took a Loan, Entire Village Placed on Blacklist: Government Decision

The Government of Armenia made a unique decision today for the residents of Khachik village. Prime Minister Nikol Pashinyan announced this during a meeting, stating that two individuals in Khachik village of Vayots Dzor region took out loans, making the entire population of the village guarantors for these loans.

"They have not repaid the loans, and the entire village has ended up on a blacklist, making it impossible for them to obtain further loans," he said. A criminal case has even been opened regarding this matter.

The Armenian government decided to allocate 65.7 million drams from the state budget to the residents of Khachik village who acted as guarantors. "Their credit histories will be reset, except for those two citizens," Pashinyan emphasized.

He urged all citizens not to fall into similar situations again, as this was the only time the government made an exception, taking a political decision for a one-time solution.

The Vice Governor of the Central Bank, Hovhannes Khachatryan, mentioned that this concerns 77 individuals. "Two lending organizations will waive interest, court costs, and remaining penalties totaling 50 million drams; however, their credit histories will not be erased but will show that their financial obligations have been reset," he informed.

According to the Central Bank Vice Governor, it will be specially noted that these individuals were victims of fraud.