YEREVAN. – The banks in Armenia have good opportunities to bring cheap long-term money from abroad. 

Chairman of the Central Bank of Armenia (CBA), Arthur Javadyan, stated the aforesaid at Monday’s National Assembly debates on the 2016 State Budget draft.

“Today, there is very cheap money in the world; this is a good opportunity for our [i.e. Armenia’s] banks,” Javadyan said. “And we, as regulators, want that not solely cheap, but also long-term money appears in the system.”

To this end, the CBA applies low interest rates for mandatory reserves, and by way of the long-term use of resources.

Arthur Javadyan added that several banks have already made use of these rates and conducted millions of dollars of issuances.