On December 25, 2019, the Central Bank of Armenia hosted its traditional year-end reception during which Governor of the Central Bank Artur Javadyan delivered a welcoming speech and assessed the passing year as effective from the perspective of ensuring of price stability and financial stability.

Among the achievements of the year, the governor of the Central Bank stressed the ensuring of price stability, significant deepening of financial mediation in the economy, expansion of accessibility, transparency and availability of financial services, etc.

The governor of the Central Bank expressed his gratitude to financial institutions once again for the contributions that they have made to the country’s development and the functioning of the financial system. He also emphasized that Armenia’s financial system was assessed as sustainable based on the results of the plan for assessment of the financial system conducted by the International Monetary Fund and the World Bank in 2018 as well, and the processes of settlement and oversight have complied with the Basel Fundamental Principles by nearly 97%.

Javadyan also set aside the fact that all banks and some credit organizations were included in the list of the country’s top 100 large taxpayers.

Congratulating the attendees on the upcoming holidays, the governor of the Central Bank assured that the objectives set for financial institutions and the Central Bank have been met to a great extent and assured that the effective activities being implemented will continue.