Annual Report 2019

In the year under review, the Central Bank sustained its ties with international partner institutions at multilateral and bilateral level by way of organizing a variety of workshops, symposiums, courses, and mutual visits. A number of visits by representatives of partner organizations are noteworthy in this context. In 2019 the Central Bank received Richard Dornbusch, Deputy Executive Director of the International Monetary Fund, and Jihad Azour, Director of the Middle East and Central Asia Department. Issues related to bilateral cooperation, current economic situation in Armenia, fiscal and monetary policy, strengthening the external reserve position, reducing the public debt, maintaining the financial system stability were discussed during the visits. In 2019 the International Monetary Fund (IMF) made a regular visit to Armenia. Following an effective work with the Central Bank and the Government of the Republic of Armenia, the IMF Board approved a new program with Armenia in 2019. In the framework of the program approved by the IMF, the Central Bank has closely cooperated with the IMF Armenia mission, and the management of relevant department and the IMF/WB (Dutch-Belgian Subgroup) Constituency, ensuring the implementation of measures related to the monetary and financial sectors. In April, the Central Bank received a delegation led by Christoph Tiskens, Chairman of the Board of Directors of the European Foundation for Southeast Europe (EFSE). The prospects of bilateral cooperation was the subject of discussion during the visit, followed by a roundtable on "SME Sustainable Finance" organized together with Finance in Motion. In October, the Central Bank received a delegation led by KfW Bank Board Member Bernd Loewen. The outcome of the projects implemented by KfW, projects underway, as well as further programs aimed at renewable energy and SME lending were discussed. As a ANNUAL REPORT 2019 83

View entire presentation