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YOU SQUEEZE PEOPLE WITH HIGH-INTEREST RATE
During the parliamentary hearing organized by the NA Committee of
Agricultural and Environmental Affairs Member of Parliament Lyova
Khachatryan of the PAP asked Arthur Stepanyan, a Central Bank board
member, whether they could provide the list of farmers and economic
entities who received the subsidized loan and succeeded.
The CB representative said it is confidential information.
"I wonder if you are aware that the low-interest loans which some
people were lucky to receive are basically spent on repaying money
borrowed earlier at high interest rates. They borrowed in one place
and repaid in another place, and nothing went to agriculture," Lyova
Khachatryan said.
He notes that the CB president has recently spoken about 98% of
repayment of loans, which is funny. "Repayment does not exceed 40-50%.
You have squeezed people with your interest rates at 20-30%," the
member of parliament noted.
He also said that he does not know a single farmer in the region of
Aragatsotn who has borrowed agricultural loan and is satisfied with
the interest rate and did not have difficulty with repayment.
15:59 17/09/2013 Story from Lragir.am News:
http://www.lragir.am/index/eng/0/country/view/30905
During the parliamentary hearing organized by the NA Committee of
Agricultural and Environmental Affairs Member of Parliament Lyova
Khachatryan of the PAP asked Arthur Stepanyan, a Central Bank board
member, whether they could provide the list of farmers and economic
entities who received the subsidized loan and succeeded.
The CB representative said it is confidential information.
"I wonder if you are aware that the low-interest loans which some
people were lucky to receive are basically spent on repaying money
borrowed earlier at high interest rates. They borrowed in one place
and repaid in another place, and nothing went to agriculture," Lyova
Khachatryan said.
He notes that the CB president has recently spoken about 98% of
repayment of loans, which is funny. "Repayment does not exceed 40-50%.
You have squeezed people with your interest rates at 20-30%," the
member of parliament noted.
He also said that he does not know a single farmer in the region of
Aragatsotn who has borrowed agricultural loan and is satisfied with
the interest rate and did not have difficulty with repayment.
15:59 17/09/2013 Story from Lragir.am News:
http://www.lragir.am/index/eng/0/country/view/30905