Armenian governor argues for ‘paradigm shift’ in forecasting

Martin Galstyan
Martin Galstyan presenting at the IMF-World Bank meetings

Central banks should abandon “base case” scenarios, said Martin Galstyan, governor of the Central Bank of Armenia (CBA), on October 13.

Galstyan told the International Monetary Fund-World Bank annual meetings that the CBA is advocating a “paradigm change” in monetary frameworks.

Instead of focusing on a single forecast, Galstyan urged central banks to present multiple scenarios – a hawkish scenario, a dovish scenario, and a “dark corner” scenario.

The hawkish and dovish scenarios present

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account