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Armenian society treats the nationwide forex, dram, as an emblem of independence, Central Financial institution of Armenia (CBA) Chairman Martin Galstyan says.
“So, it’s a nationwide image which is of profound significance,” he advised a panel dialogue on the thirtieth anniversary of the Armenian dram held at YSU.
Galstyan highlighted the legislation on the Central Financial institution handed in 1996 as a elementary doc that provides at this time’s professionals the chance to “boast in regards to the achievements through the years.”
“Any authorities maximizes the welfare of voters with the intention to win re-election. Due to this fact, any authorities’s goal capabilities embody an insatiable want of spending,” the CBA chief mentioned, including it prompted the institution of an unbiased establishment to “curb these wishes”.
Galstyan famous that the 1996 legislation “On the Central Financial institution” was in step with this logic.
“The Central Financial institution has the appropriate and the favored mandate to say no to the federal government in terms of spending,” Galstyan famous, stressing this operate ensures secure and manageable inflation within the nation.
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