CBA President denies rumors on large capital outflow from Armenia

President of the Central Bank of Armenia Artur Javadyan denies the rumors according to which a great outflow of capital from Armenia has taken place during the recent domestic political events.

During the session of the parliamentary standing committee on financial-credit and budgetary affairs, the CBA President said outflows have taken place during these days which were normal for that period.

“Some outflow has taken place, but they were mainly linked with the types of goods that were imported. We didn’t have extreme cases of outflow when people start to pull off their assets”, the CBA President noted.

Artur Javadyan said during the recent events there have been people who terminated the deposit contracts. “The talk is about several tens of millions of dollars. But this is not important since early termination of contracts have occurred. We witnessed a similar event also in late 2014, but during that time such a quick recovery didn’t take place”, he said, adding that now the recovery is taking place at higher rates.