Dilijan Training and Research Centre of the Central Bank of Armenia hosted a high level international conference, dedicated to Armenian national currency dram’s 25th anniversary.

Governor of the Central Bank of Armenia Arthur Javadyan noted that the conference also symbolizes the 25th anniversary of independent monetary policy-making.

He mentioned that during these 25 years the Armenian dram has resisted numerous shocks, yet it has succeeded to persist as a viable currency. He stressed that currently Armenia has an effective monetary policy and sound financial stability framework.

Central Bank officials introduced the main stages of development of monetary system in Armenia and the bank’s policies on financial stability over the past 25 years, as well as its toolset and mechanisms.

A special guest and keynote speaker Lawrence Christiano from Northwestern University delivered a speech entitled “Dollarization: Tradeoff between Insurance for Households and Increased Probability of Crisis”.