New Armenian Central Bank Chief Confirmed By Parliament

YEREVAN (RFE/RL)–Armenia’s Parliament voted on Wednesday to appoint Artur Javadian as the new chairman of the Central Bank of Armenia (CBA).

Javadian, who worked as deputy chairman of the CBA until now, was nominated for the post by President Serzh Sarkisian in accordance with Armenian law.

The post of CBA chairman had been vacant since its previous chairman, Tigran Sargsyan, was appointed as prime minister in early April.

An agriculture engineer by training, Javadian, 44, held senior managerial positions in Armenian commercial banks before joining the CBA board as an adviser to Sargsyan in 2000. He became a member and deputy chairman of the board in 2003.

Speaking to RFE/RL this week, Javadian said CBA policies endorsed by the International Monetary Fund will essentially remain unchanged during his six-year tenure. “The Central Bank will continue its tight monetary policy and its fight against inflation,” he said.

Javadian also ruled out changes in the CBA’s exchange rate policy that has resulted in a dramatic appreciation of the Armenian currency, the dram, in recent years.

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