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ARMENIA NEEDS HEDGING INSTRUMENT
PanARMENIAN.Net
02.03.2010 18:18 GMT+04:00
/PanARMENIAN.Net/ Provided a small monetary base in Armenian commercial
banks, a certain hedging instrument is reqiured for Armenia, Chief
Executive Officer of ACBA-CREDIT AGRICOLE BANK Stepan Gishyan said.
According to him, international hedge funds experienced difficulties
during the crisis and 2009 was not the best year for establishing such
a fund in Armenia. "Armenia's monetary base is not sufficient yet,
and banks are forced to attract cash in foreign currency to meet the
credit needs of its customers," he said.
PanARMENIAN.Net
02.03.2010 18:18 GMT+04:00
/PanARMENIAN.Net/ Provided a small monetary base in Armenian commercial
banks, a certain hedging instrument is reqiured for Armenia, Chief
Executive Officer of ACBA-CREDIT AGRICOLE BANK Stepan Gishyan said.
According to him, international hedge funds experienced difficulties
during the crisis and 2009 was not the best year for establishing such
a fund in Armenia. "Armenia's monetary base is not sufficient yet,
and banks are forced to attract cash in foreign currency to meet the
credit needs of its customers," he said.