Armenian CB offers stress testing methods to CIS members
YEREVAN, May 20. /ARKA/. The Central Bank of Armenia (CBA) offers stress testing, developing stress scenario development and risk assessment methods to the other CIS member-countries.
The CBA Board member Karine Minasyan reported that the CBA made this offer at the 9th sitting of the CIS Council of Heads of government agencies for securities markets held in Yerevan on May 19-20.
“We in Armenia did not encounter serious consequences, but had a chance to develop our methods of assessing financial stability,” she said.
Minasyan said that the issue of overcoming the global financial crisis will ultimately be discussed on the last day of the Council’s sitting.
“We hope that all the participants in the sitting will benefit from our recommendations,” she said.
Speaking of the Armenian securities’ market, Minasyan pointed out that it is still in the making and is too small.
“The key index showing the scope of market is its share in the GDP, which is about 1.5% now. It is too small as compared with the other, large, CIS member-countries,” she said.
In this context, Minasyan said that the global financial crisis cannot yet be said to be seriously influencing the Armenian securities market.
“Of course, we may encounter problems in the future as a result of lower rates of implementation of some programs, which can be attributed to the lack of investors,” Minasyan said.
The Council was formed by the CIS Heads of Government in 2003. At present the Council includes representatives of Azerbaijan, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan and Ukraine. The primary task of the Council is economic integration of the CIS member-states in the securities market, ensure cooperation in forming international standards of securities market management, create conditions for further liberalization of capital flow in the CIS member-states, ensure effective protection of investors’ rights and effective supervision over the securities market. P.T. –0--
