ArmInfo. The Central Bank of Armenia should preserve its status of an independent structure, but its accountability to the parliament of the country needs to be raised. On January 18, Mane Tandilyan, candidate from the Bright Armenia faction on the post of the chairman of the NA commission on financial-credit and budgetary issues, announced this at the sitting of the National Assembly.
According to her, increasing accountability can be achieved through various mechanisms. The Constitution envisages for the Central Bank of Armenia certain powers to restrain inflation and maintain macroeconomic stability. In this sense, according to Tandilyan the Central Bank is a structure that can act freely. "But at the same time, it is important to understand that the monetary policy conducted by the Central Bank can seriously affect the country's economy. Consequently, the National Assembly has the authority to work with it using control mechanisms," the candidate said, adding that in this direction, representatives of the Central Bank will be periodically invited to the National Assembly of the Republic of Armenia.
The MP also touched upon interest rates. In her opinion, the presence of a large number of commercial banks allows them to operate in a competitive field. But, at the same time, high interest rates, as well as risks that may be faced by commercial banks in the event of an unjustified decrease in interest rates.can not but disturb the parliament. According to Mane Tandilyan, discussions will be held on this issue in various formats, including through parliamentary hearings.