CB President: “We don’t need gold reserves now” (video)

President of the Central Bank Arthur Javadyan gets very surprised, when he hears that the majority of Armenian population is extremely poor, “With what do you compare?”

Arthur Javadyan compared the condition of Armenia’s population with the economic condition of the population of the CIS states and found out that we are in a very good condition, “Neither Russia, nor Kazakhstan, Belarus, Kyrgyzstan, Azerbaijan cannot be compared with us. Neither Moldova nor Ukraine.”

The President of the Central bank can also understand migration from such a good country as Armenia, “They go to better places.”

President of the Central Bank has heard of Armenian officials’ getting richer for the first time, “I haven’t seen such a thing that officials are getting richer in Armenia.”

Mr. Javadyan, by the way, today has also touched upon the absence of the gold reserves in Armenia, “Now we don’t need gold reserves.”

He reminds that 14 years ago Armenia refused 1.6 tons of gold reserves, but soon it will have more, “Now very serious gold plant is under construction. In 2004 our gold reserves were just 1.6 tons, and it wasn’t much, and at that time it was a right decision to sell it, as the sums, which were transferred to the budget, were serious amounts.”

By the way, Mr Javadyan today preached as well that the interest rates of consumer loans in Armenia are lower than in the United States.