Armenia’s Galstyan calls for a new framework to tackle uncertainty and nonlinearities

Favours risk-management approach to policy and less emphasis on baseline forecasts that give false assurances

Martin Galstyan
Martin Galstyan, Central Bank of Armenia
Photo: Central Bank of Armenia

What were your main priorities when you took over as governor in June 2020?

The transformation of the central bank and the whole financial system were the cornerstone of my vision, which I outlined in my speech to the National Assembly in June 2020. When I assumed office, we were just beginning one of the greatest periods of uncertainty related to the Covid-19 pandemic. It was clear to me from the very beginning that to cope with these uncertainties, and to take advantage of the opportunities

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