ArmInfo.Recently, an International Monetary Fund delegation led by IMF Deputy Director for the Middle East  and Central Asia Department Mr. Thanos Arvanitis visited Armenia and held a number of important meetings with government officials. In addition, a special event was organized in Yerevan, during which the IMF presented the "Regional Economic Development Prospects" report. On the sidelines of this meeting, an ArmInfo correspondent spoke with Mr. Arvanitis about the priorities and possible risks of the Armenian economy.

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ArmInfo.Yerevan is set to welcome the 33rd annual meeting and business forum of the European Bank for Reconstruction and Development (EBRD), with Ardshinbank taking the lead as flagship sponsor. The event, a significant fixture among financial institutions, will convene high-ranking delegations from 74 countries, prominent financial and banking experts, and thought leaders of the Armenian banking sector. Scheduled for May 14-16, the forum aims to foster positive impacts and enhance financial markets for the public good.

ArmInfo. The Board of the Eurasian Economic Commission adopted changes to the procedure for  filling out an application for the release of goods before filing a declaration for goods and the structure of this document.

ArmInfo.Over time, if the general background is more favorable, with a parallel decrease in the  refinancing rate, we will see a certain reduction in rates on loan products.  This was stated by Governor of the Central Bank of Armenia Martin Galstyan during a meeting of the  RA NA Standing Committee on  Financial-Credit and Budgetary Affairs.

ArmInfo. 75% of Armenia's exports in Q1 of 2024, were precious and semi-precious stones and metals. An  increase in gold re-exports has been observed since November 2023.  This circumstance contains great risks, because economic growth is currently exogenous, and in the event of a change in any of the  external incentives, as well as a significant decrease in gold re-exports, the Armenian economy will become vulnerable. A similar assessment was made by Associate Professor of the Armenian State University of Economics, economist Aghasi Tavadyan.

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ArmInfo. Analyzing data on Armenian state budget revenues for the first quarter of 2024, head of the  ACSES Analytical Center Haykaz Fanyan suggests thinking about increasing the tax burden on jewelry market participants.

ArmInfo.On May 13, 2024, IDBank placed registered coupon bonds under the abbreviation AMANLBB2PER9 through a public offering on the following terms:

ArmInfo.Armenia will be the next country to host the American Competitiveness Exchange (ACE)  program. According to the press service of the Ministry of Economy, this was officially announced during an event dedicated to the ACE in Detroit (USA), in which the head of the department, Gevorg Papoyan,  took part. Thus, Armenia, as an observer, will become the third country located outside the United States where this program will be implemented.

ArmInfo.The European Bank for Reconstruction and Development (EBRD) will extend its geographical  mandate to North Africa (sub-Saharan Africa) and Iraq.  At a meeting on May 13, the RA National Assembly Commission on Financial, Budgetary and Credit Issues issued a positive conclusion on the  amendments submitted by the RA government to the first article on the creation of the Bank.

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ArmInfo.Trade in the Caucasus and Central Asia region could triple and distances could be cut by  half or even a third if certain changes are made, which requires political will. Mr. Alkis  Drakinos , Director, Regional Head of the Caucasus for the European Bank for Reconstruction and Development  (EBRD), stated on May 10, during an event held in Yerevan within the framework of  the IMF "Perspectives of Regional Economic Development" report.

ArmInfo.The overheating of prices in the Armenian real estate market may have ranged from  20-30%. This was stated by Governor of the Central Bank of Armenia Martin Galstyan on May 10, during an event held in Yerevan over the "Perspectives of Regional Economic Development" IMF report, referring  in this regard to the Central Bank's Report on Financial Stability.

ArmInfo. The Ministry of Finance of Armenia reports that as of May 10, decisions have been signed to  write off 469 obligations of individuals who have consumer loans secured by gold.

ArmInfo.In Armenia, four-month inflation of 0.8% was triggered by food and services, which rose in  price by 1.8% and 0.9%, respectively, while non-food products fell in price by 1.6%. This is not much different from last year's picture, when in January-April 2023 inflation of 0.9% came from an increase in  food prices by 1.6% and an increase in the price of services by 1.1%, with a decrease in the price of non-food goods by 1%. This is evidenced by the data of the RA Statistical Committee.

ArmInfo. Deputy Prime Minister of  Armenia Mher Grigoryan received Mr Thanos Arvanitis, the  International Monetary Fund (IMF) Deputy Director of the Middle East  and Central Asia Department. Mr Umang Rawat, the  IMF Resident  Representative for Armenia was also present at the meeting.

ArmInfo. Minister of Economy of  Armenia Gevorg Papoyan, accompanied by Deputy Minister Narek  Hovakimyan, left for a working visit to the United States.

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