Armenia saw turbulent H1 2016 – financial stability report

The Central Bank of Armenia. Image: Serouj/Wikimedia
Photo: Serouj/Wikimedia

The Armenian financial system suffered a turbulent start to the year due in large part to problems in the country's closest trading partners, according to the Central Bank of Armenia's latest financial stability report, published on November 18.

The report, which covers the first half of 2016, says geopolitical risks led to a downturn in nearby Russia, which in turn affected the flow of remittances and exports. Geopolitical factors also affected the price of some commodities produced in Armenia

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