Zhamanak: When banks will reduce interest rates for loans?
A correspondent of Zhamanak newspaper asked deputy chairman of the Central Bank of Armenia, ex-Minister of Economy Nerses Yeritsyan when the banks will reduce interest rates for loans, because the high interest rates hinder the development of business. The official replied, “Are we prepared to invest our savings at lower interest rates? When we solve this problem, then the banks can provide loans at lower interest rates.”
In response to the correspondent’s observation that Armenia receives cheap loans from foreign countries, Yeritsyan said, “When the risk in our country adds to it, as a result of that, we have the current interest rates.”