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Armenian Prime Minister: It Is In Interests Of Armenia To Introduce

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  • Armenian Prime Minister: It Is In Interests Of Armenia To Introduce

    ARMENIAN PRIME MINISTER: IT IS IN INTERESTS OF ARMENIA TO INTRODUCE THE REGIONAL CURRENCY AMONG CIS COUNTRIES

    Regnum
    www.regnum.ru/english/1122974.ht ml
    Feb 10 2009
    Russia

    Armenia is committed in introduction of the regional currency among CIS
    countries, said Tigran Sargsyan, the Armenian Prime-minister in program
    "Together" on MIR TV. "We have a whole package of suggestions on this
    subject, in particular, how it can be done. And what is interesting,
    that the Central Bank of Armenia proposed this amendment three years
    ago", -- stressed the Armenian premier.

    Sargsyan underlined, that a project is on the table of the CIS
    Intergovernmental Bank. According to him, this bank, where are
    represented all CIS countries' Central Banks could be an appropriate
    instrument.

    "In case the Central Banks will use these currencies and consider
    them as own reserve currencies, it will be the first step towards
    calculations in rubles between CIS countries, and in its turn,
    it means, that the Central Bank of Armenia will have to recognize
    ruble as its reserve currency. Hereinafter, our commercial banks can
    maintaine a ruble accounts in Armenian Central Bank and so on. It
    is quite a logical scheme, and Armenia is very interested ruble to
    become a currency, to carry out a transaction not only with Russia
    but also with CIS other countries. We will make every effort to turn
    it to reality", -- said Sargsyan.
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