Yerevan, November 3 /Mediamax/. The Armenian Central Bank holds a “trenchant policy” to suppress inflation, Chairman of the Russian Central Bank Sergey Ignatyev stated in Yerevan today.

Mediamax reports that, speaking at the news conference following the session of the Interstate Bank Council today, Sergey Ignatyev stated that in conditions of high economic growth and low inflation, the strengthening of the national currency is a natural process. He noted that this, in its turn, results in lower speeds of growth in the so-called non-commercial spheres. Nevertheless, Sergey Ignatyev stated, the real sector of Armenia quickly accommodates itself to such processes.

Chairman of the Central Bank of Armenia Tigran Sarkisian stated that the Interstate Bank provided an open credit line with the volume of $70mln to the Armenian “Nairit Factory” CSC.

Altogether, starting from 1993, the Interstate Bank financed several tens of projects in Armenia at the whole sum of $110mln.