YEREVAN, August 10. /ARKA/. The financial agenda of Armenia last week was shaped by the Central Bank's maintenance of current monetary conditions, indicators of the banking and non-banking credit sectors, as well as capital market activity, the state debt situation, and decisions to attract financing from international financial organizations.
1. Monetary Policy: Central Bank Maintains Rate at 6.5%
The Central Bank of Armenia's board kept the refinancing rate at 6.5% for the sixth consecutive time on August 4. The deputy head of the regulator, Ovanes Khachatryan, noted that there are factors both for raising the rate and for keeping it at the current level.
2. Banking Sector: Assets and Lending Continue to Grow
The head of the Union of Banks of Armenia, Daniel Azatyan, presented the main indicators of banks for the first half of the year. Thus, the total assets of banks in Armenia reached 13.8 trillion drams, increasing by 8.1% since the beginning of the year, while the loan portfolio grew by 11.5% to 8.8 trillion drams.
3. Bank Ratings: Moody’s Upgrades Outlook for Akba Bank and IDBank
Moody’s Ratings changed its outlook for the long-term deposit ratings of Akba Bank and IDBank from
