Armenia's Central Bank routinely performs financial stability stress tests, according to Galstyan
YEREVAN, February 3. /ARKA/. The Central Bank of Armenia carries out periodic financial stability stress tests, factoring in scenarios such as global economic downturns, currency depreciation, and other variables, stated Central Bank Chairman Martin Galstyan in response to an inquiry from ARKA news agency.
"In the last five years, beginning in 2020, we have faced nearly continuous crises. During this period, a new monetary policy agenda has developed. We have established a new framework policy that we believe is demonstrating effectiveness," Galstyan remarked during a press conference.
He noted that Armenia has been increasingly referenced in relation to this policy on international platforms, including various forums and analytical reports.
When asked about the country's preparedness to utilize international reserves in the face of escalating external shocks, the Central Bank Governor emphasized that the current policy is the primary factor.
"Concerning reserves, we must implement the appropriate policy to endure challenges. Buffers are significant, but they cannot substitute for a robust policy. They provide a certain 'safety cushion' and enhance confidence among foreign investors, yet there is no substitute for a well-conceived policy," Galstyan asserted.-0-
