What Do We Need Cash For? – Nikol Pashinyan

“We need to address the issue of cash. What do we need cash for?” stated Prime Minister Nikol Pashinyan during a government meeting discussing cashless trade.

“What do people do with cash? They give bribes, engage in shadow trade. What positive thing is there that cannot be done through cashless means? Give a gift at birth? It is possible to transfer on the spot using an app,” he said.

The Prime Minister recounted that members of his staff had gone out to make purchases and reported that if the trade is conducted in cash, the price is different than for cashless transactions. “What does it mean for the Prime Minister’s staff to go shopping in the center of Yerevan and hear, ‘You know, my friend, this is how we do things here, if you do it this way, it will be like this’? Close that shop down. Find a way, close that shop. I will check. There should be no trade happening in that store. I take personal responsibility for this and will pass by every day. Until I give my personal permission, that shop should not open. You will personally report to me,” he remarked.