The fears of a second wave of crisis in Armenia are unfounded, Astrid Clifford, CEO, HSBC Bank Armenia told NEWS.am-Innovation. She pointed out that people just link the recent fluctuations of the Armenian dram to a second wave of crisis.

People are panicky, but their fears are unfounded, as, after devaluating the Armenian national currency revaluated again, Clifford said. She added that the problem had nothing in common with import or export in the market.

Ms. Clifford said that the recent fluctuations of the Armenian dram have been within the market law, which is “normal and healthy.”

According to her, exchange fluctuations are rather frequent in the currency market, which, however, does not mean that a second wave of crisis is their cause. In this context, Ms. Clifford pointed out the need for understanding and not getting into panic. She added that the people have not yet got over the fear of last year’s crisis, and exchange fluctuations create panic among the population.

T.P.