Parliament Reinstates Central Bank Chair Sargsian

YEREVAN (ARKA)–Armenia’s National Assembly has voted to reinstate the chairman of the Central Bank of Armenia Tigran Sargsian–for a seven-year term.

The closed ballot yielded 86 votes in favor of Sargsian–reelection; only 4 members of parliament opposed.

Sargsian thanked Armenian President Robert Kocharian for putting forward his candidacy and lawmakers for approving it–and promised to justify the confidence of the lawmakers in reinstating him for another term.

"I’ll try to strengthen this confidence and hope that cooperation with the Parliament will bring about a flourishing of the country’s economy," Sargsian said. He stressed that Armenia would be facing new challenges and must be prepared to tackle them.

According to law–the Chair of Armenia’s Central Bank is nominated by the President for a seven-year term–and must be approved by its National Assembly.

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