In response to armenpress’s question, the Central Bank stated: “In response to the details spread in the press about transfers from Azerbaijan to Armenia, we inform you that the Central Bank of Armenia publishes the statistics of transfers received from abroad in the name of individuals through RA banks and made abroad by individuals from Armenia, according to 50 main countries, from where they are received and transferred there the funds constitute a certain meaningful volume. Azerbaijan is not included in the list of the mentioned countries, because either there are no transfers or they are not of a significant volume to be included in the mentioned list.”
Earlier, MP Garnik Danielyan of the NA faction “Armenia” announced in a conversation with journalists that a large volume of transfers had allegedly arrived from Azerbaijan to Armenia.
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How does the credibility of economic data impact public trust in goverment institutions?
Interview with Dr. Anush Harutyunyan, Economic analyst
Editor of Time.news: Thank you for joining us today, Dr. Harutyunyan. The recent statements from the Central Bank of Armenia have sparked considerable interest regarding the transfer statistics between Azerbaijan adn Armenia. Could you provide us with an overview of the current situation based on these statements?
Dr. anush Harutyunyan: Thank you for having me. Yes, the Central Bank’s response clarifies that, despite claims by MP Garnik Danielyan of meaningful financial transfers from Azerbaijan to Armenia, their statistics reveal that Azerbaijan is not included among the main countries from which transfers are received. This suggests either a lack of significant financial activity or the absence of regular transfers altogether.
Editor: That’s quite critically important to note. What do you think are the implications of this discrepancy in reported transfer volumes?
Dr. Harutyunyan: The implications are multifaceted.For one,it undermines the credibility of claims made by political figures without supporting data. This could affect public perception and trust in institutions,especially regarding economic connectivity between the two nations.moreover, if, indeed, there are no significant transfers, it raises questions about the economic relationships and the potential lack of engagement outcomes between Armenia and Azerbaijan.
Editor: Engaging perspective. From an economic standpoint,how do you see the overall impact of cross-border transfers on the financial stability of Armenia?
Dr. Harutyunyan: Cross-border transfers can considerably contribute to a country’s economic health, especially in times of need.They boost individual purchasing power and household consumption. however, if the transfers from Azerbaijan are not forthcoming, Armenia may need to explore new markets or financial partnerships. This could lead to a shift in their economic strategies and require them to focus on strengthening relationships with countries that can provide more substantial financial support.
Editor: Based on your analysis, what practical advice woudl you give to individuals or businesses concerned about these reported transfers?
Dr. Harutyunyan: I would advise individuals and businesses to stay informed about the latest economic developments and statistics published by credible sources such as the Central bank. Understanding the actual flow of funds can definitely help in making informed decisions. Furthermore, it may be wise to diversify financial partnerships rather than relying on a single source, particularly in politically sensitive regions. Engaging in broader international trade can also reduce vulnerabilities.
Editor: As we wrap up, what insights can you share regarding the role of government transparency and communication in this context?
Dr. Harutyunyan: Government transparency is crucial in maintaining public trust and fostering a stable economic environment. Clear and timely communication regarding economic data helps demystify public concerns and mitigate speculative claims. Regularly releasing comprehensive reports on financial activities, including remittances, can enable better understanding and informed discussions about economic realities, promoting a more robust economic landscape.
Editor: Thank you for your insightful analysis, Dr. Harutyunyan. Your expertise sheds valuable light on a complex topic that is significant to many readers interested in the economic ties between Armenia and Azerbaijan.