No outflow of capital from Armenia, central bank chairman says
28.10.2019,
18:21
There is no outflow of capital from Armenia, the chairman of the Central Bank Artur Javadyan told reporters on Monday.
YEREVAN, October 28. /ARKA/. There is no outflow of capital from Armenia, the chairman of the Central Bank Artur Javadyan told reporters on Monday. He said otherwise the Central Bank would not have been able to increase the external forex reserves to about $ 500 million.
'If there were an outflow of capital, we would have to sell the forex reserves" Javadyan said. 'Therefore, a substantial increase in Armenia's forex reserves means that the country is more likely to see an influx of capital rather than an outflow.
He said if the Central Bank sees a capital outflow trend it would respond promptly. "We are buying forex which is channeled into the economy," Javadyan said.
According to official data, the Central Bank's forex reserves at the end of September stood at $487.7 million, the highest ever level. --0—
'If there were an outflow of capital, we would have to sell the forex reserves" Javadyan said. 'Therefore, a substantial increase in Armenia's forex reserves means that the country is more likely to see an influx of capital rather than an outflow.
He said if the Central Bank sees a capital outflow trend it would respond promptly. "We are buying forex which is channeled into the economy," Javadyan said.
According to official data, the Central Bank's forex reserves at the end of September stood at $487.7 million, the highest ever level. --0—
