“INDEPENDENCE OF THE CENTRAL BANK AS AN IMPORTANT NORM OF RA CONSTITUTION: MEETING AT YSU

Members of the RA executive and legislative bodies, business experts, the member of the RA CB Board Armenak Darbinyan and other representatives of the CB, the Dean of YSU Faculty of Economics and Management Hayk Sargsyan, representatives of the teaching staff and students were present at the event.

At the beginning of the meeting, the Dean of the Faculty, director of Economic Education and Research Support Centre Hayk Sargsyan greeted those present and informed that they cooperate with the Central Bank in various formats.

The speaker highly appreciated the analysis of the international experience formed round the main goals of the Central Banks and the level of independence of the RA Central Bank.

Then the member of the RA Central Bank Board Armenak Darbinyan made a speech which he started with the description of the goals of the program.

The participant of the program, PhD in Economics Zhirayr Mkhitaryan started his speech with the introduction of the independence of the CB. He presented the constitutional and legal evolution of the RA CB, the results of the assessment of independence of Central Banks made on the basis of Cukierman and GMT methods.

Professor of the Faculty of Economics and management of YSU Ruben Gevorgyan who is the co-leader of the research made a report as well. He presented some of their statistical research, referred to the ties between the CB independence and growth f prices and stability of financial system.

Professor Gevorgyan claimed that as a result of the statistical research it can be concluded that the more independent the CB of the country is, the more stable the institute of growth of prices is.

At the end of his speech the Professor summarized the independence of the RA Central Bank in the context of international assessments.