President Meets With Bankers

YEREVAN (Noyan Tapan)–Armenian president Robert Kocharian held a meeting with top officials of nearly thirty banks Wednesday.

According to Kocharian–the meeting was necessitated by the current situation in the republic. The President expected the banks to express their concerns–assessmen’s and also suggestions as to possible steps on the part of the government to ensure the banks’ stable and secure functioning. Kocharian was pleased to say that the banking system was able to fight this difficult change and proved a viable structure manageable even in similar emergencies.

"The work ethics shown by the banks in the crisis situation testifies to the fact that in our approaches to economic policies and the country’s future we are partners and allies–and we are ready to lend a helping hand to one another," the President underscored. Pointing out that the government will consistently continue the policy of liberal reforms–Kocharian said–"We are in a good position to deal with current problems and continue our country’s development in a constitutional way."

The meeting participants expressed some concerns over the frequently mentioned suggestions to introduce amendmen’s to the law on "Banking secret." Ruling out such amendmen’s–Kocharian emphasized that banking secret is a guarantee the development policy of the banking system is based on and due to which the stability of the system was maintained in these difficult conditions.

Central Bank Chairman Tigran Sargsian–speaking of the future programs–noted that the projects planned to be accomplished with the government by end of the year remained in force. According to him–both the World Bank and the International Monetary Fund have vowed further assistance to these projects and at the same time have expressed their readiness to discuss the possibility of rendering additional economic and technical assistance to Armenia to cope with the current difficult situation. According to the CB Chairman–there is no economic reason for failing to accomplish the mentioned projects.

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