Armenian-Azerbaijani peace agreement may enhance investment flows to Armenia – head of Central Bank

YEREVAN, September 9. /ARKA/. The Chairman of the Central Bank of Armenia, Martin Galstyan, evaluated the implications for the Armenian economy stemming from the documents signed on August 8 in Washington by the leaders of Armenia, the United States, and Azerbaijan.

"With the finalization of the peace treaty, we anticipate a broader and more significant impact, particularly in terms of diminishing the risk premium and enhancing the flow of investments to Armenia," Galstyan stated during a parliamentary session on Tuesday.

He noted that very encouraging signals and feedback are being received from international organizations and partners; however, some uncertainty persists regarding the future developments.

"This is the reason why Fitch did not alter Armenia's rating, but rather assigned it a positive outlook," Galstyan remarked.

On August 19, Fitch Ratings indicated that the establishment of a peace agreement between Armenia and Azerbaijan is unlikely to have an immediate effect on the ratings of either nation, but it could foster positive medium-term trends within the credit sector

The seven-point declaration, which was signed after the trilateral meeting involving Armenian Prime Minister Nikol Pashinyan, U.S. President Donald Trump, and Azerbaijani President Ilham Aliyev on August 8 in Washington, encompasses the initialing of the 'Agreement on Peace and Interstate Relations between Armenia and Azerbaijan', a joint request to the OSCE for the dissolution of the Minsk Group mechanisms, and the unblocking of regional communications based on the principles of territorial integrity, sovereignty, and jurisdiction of the nations, as well as reciprocity.-0-