Publications

Publications

Publications

3 collector coins were issued 2021-03-25 10:21

3 collector coins were issued The 100th Anniversary of Establishment of Petros Adamyan Armenian State Drama Theater in Tbilisi Armenian performances have been organized in Tbilisi, Georgia, since the 1820s. The Armenian theater as a professional structure was founded in 1858 and became a direct successor of the best traditions of the Eastern Armenian theater, undertaking the creation of a new Armenian theatrical art. In 1921 the theater was organized as an Armenian state drama theater. The...

Refinancing Rate Set at 5.5 percent 2021-03-16 12:03

Refinancing Rate Set at 5.5% At the March 16, 2021 meeting, the Board of the Central Bank of Armenia decided to leave the refinancing rate unchanged, on a 5.5% level. In February of 2021, inflation stood at 0.6% compared to 0.2% deflation recorded in the same month of the previous year, in which case the 12-month inflation and core inflation have increased to 5.3% and 5.5%, respectively, at the end of the month, mainly due to the effects transmitted from international commodity...

Lists established under UNSC resolution were amended 2021-03-10 07:06

On 5 March 2021, the Committee established pursuant to the UN Security Council resolution 1591 approved amendments to the list of individuals and entities associated with...

Asymmetric Effects of Monetary Policy on the Armenian Economy 2021-03-08 18:33

WP 21/3/08 Central Bank of Armenia Working Paper 21/3/08 Asymmetric Effects of Monetary Policy on the Armenian Economy Haykaz Igityan Monetary Policy Department March 2021 Abstract Whether inflation and output respond symmetrically or asymmetrically to contractionary and expansionary monetary policy shock of the same size has important policy implications. This paper shows the presence of asymmetric responses in Armenian inflation and output to positive and negative monetary...

Lists established under UNSC resolutions were supplemented 2021-03-02 07:09

On 1 March 2021, the Committee established pursuant to the UN Security Council resolutions 751/1907 approved supplements to the list of individuals and entities associated with Somalia,...

Statistical overview (February. 2021) 2021-02-28 23:28

Statistical overview The Statistical Overview section of the monthly CBA Bulletin of the Central Bank of Armenia includes data on monetary, external, fiscal and real sectors, and data on RA payment and settlement system and financial system indicators. The data source of real sector (excluding core inflation) and external trade in goods is the Statistical Committee of the Republic of Armenia (http://www.armstat.am). The data source on fiscal, external sectors, monetary and financial...

Status Report on Implementation of the Monetary Policy Program (Q1, 2020 - Q4, 2020) 2021-02-25 21:28

(2020/4) The monetary policy carried out by the Central Bank of Armenia in 2020 was steered to ensuring a 4% target for the 12-month inflation in the forecast horizon. The inflationary environment remained low during the year mainly due to a weak demand which had been driven notably by consequences of COVID-19 outbreak in the world and Armenia since the beginning of the year and health and economic effects of the martial law declared in the country on September 27th. They were reflected in both...

Lists established under UNSC resolutions were amended 2021-02-24 07:14

On 23 February 2021, the Committee established pursuant to the UN Security Council resolutions 1267/1989/2253 approved amendments to the list of individuals and entities associated with ISIL (Da’esh) and...

List established under UNSC resolution was amended 2021-02-24 07:12

On 22 February 2021, the Committee established pursuant to the UN Security Council resolution 2127 approved amendments to the list of individuals and entities associated with Central African...

Lists established under UNSC resolutions were amended 2021-02-23 07:17

On 19 February 2021, the Committee established pursuant to the UN Security Council resolutions 1267/1989/2253 approved amendments to the list of individuals and entities associated with ISIL (Da’esh) and...

Warning against the non-public “Unit Asset Fund” private contract investment fund 2021-02-19 11:42

Warning against the non-public “Unit Asset Fund” private contract investment fund The Central Bank of the RA (CBA) warns the public against the non-public “Unit Asset Fund” Private Contract Investment Fund (The Fund) managed by “Delta Business Management” LTD (the Manager) registered in UK. The Fund has been registered with the CBA since 18.08.2017. Since 01.09.2018, the Fund, represented by the Manager, has failed to fulfill the reporting obligations with...

Structural Reforms in DSGE Model 2021-02-08 13:36

WP 21/2/08 Central Bank of Armenia Working Paper 21/2/08 Structural Reforms in DSGE Model Vahagn Davtyan, Haykaz Igityan Monetary Policy Department February 2021 This paper develops a DSGE model for a small open economy dividing it into tradable and non-tradable sectors in order to evaluate the impact of structural reforms on the economy for developing countries. The model is constructed and solved in a way that the steady state level of each sector’s employment rate...

Refinancing rate raised by 0.25 percentage point - 5.5 percent 2021-02-02 11:58

Refinancing rate raised by 0.25 percentage point - 5.5% At the February 2, 2021 meeting, the Board of the Central Bank of Armenia decided to raise the refinancing rate by 0.25 pp, setting it at 5.5%. Inflation in December 2020 amounted to 3.4%, mainly due to the rise in prices of imported food products, in which case the 12-month inflation has increased significantly and nearly approached the target level, reaching 3.7% at the end of the year. In December, the 12-month core inflation also...

Statistical overview (January. 2021) 2021-01-30 23:22

Lists established under UNSC resolutions were changed 2021-01-26 07:20

On 18 January 2020, the Committee established pursuant to the UN Security Council resolution 1518 approved changes to the list of individuals and entities associated with...