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ARMENIAN GOVERNMENT MAKES DECISION TO PROVIDE STATE PERPETUAL COUPON BONDS TO CBA
Noyan Tapan
Apr 27 2006
YEREVAN, APRIL 27, NOYAN TAPAN. Pursuant to provisions of the RA
Law on the Central Bank of Armenia (CBA), the Armenian governmnt
on April 27 made a decision to provide, for the purpose of making
investments in the CBA capital, the CBA with RA state (treasury)
perpetual coupon bonds of 12 bln 734 mln 237 thousand 325 drams in
the amount exceeding the total of the bank's reserves in order to
compensate for the losses in the CBA balance in 2005. NT was informed
about it from the RA Government Information and PR Department. The
RA Ministry of Finance and Economy was assigned to ensure the issue
of the RA state (treasury) perpetual coupon bonds by the indicated
decision and to provide these bonds to the CBA. Under the law, in case
the total of reserves is exceeded in the financial year, with the
aim of compensating for the losses in the CBA balance, the Armenian
government provides the CBA with state perpetual bonds in the amount
of exceeded sum at the market interest rate, as an investment in the
CBA capital, within 30 days after the balance has been published.
Noyan Tapan
Apr 27 2006
YEREVAN, APRIL 27, NOYAN TAPAN. Pursuant to provisions of the RA
Law on the Central Bank of Armenia (CBA), the Armenian governmnt
on April 27 made a decision to provide, for the purpose of making
investments in the CBA capital, the CBA with RA state (treasury)
perpetual coupon bonds of 12 bln 734 mln 237 thousand 325 drams in
the amount exceeding the total of the bank's reserves in order to
compensate for the losses in the CBA balance in 2005. NT was informed
about it from the RA Government Information and PR Department. The
RA Ministry of Finance and Economy was assigned to ensure the issue
of the RA state (treasury) perpetual coupon bonds by the indicated
decision and to provide these bonds to the CBA. Under the law, in case
the total of reserves is exceeded in the financial year, with the
aim of compensating for the losses in the CBA balance, the Armenian
government provides the CBA with state perpetual bonds in the amount
of exceeded sum at the market interest rate, as an investment in the
CBA capital, within 30 days after the balance has been published.