Armenia silent as Russia says working to restore Mir payment card services: THIS WEEK IN BUSINESS

  • Armenia’s Central Bank this week cut interest rates by 25 basis points to 8%, as inflation continues to remain well below target levels.
  • The Central Bank neither confirmed nor denied that Russia is working to restore access to Mir, its national payment system, in Armenia. In March, almost all of Armenia’s banks moved to block Mir transactions, citing U.S. sanctions.
  • Armenia’s antimonopoly watchdog greenlit the sale of HSBC Armenia to Ardshinbank, moving the deal one step closer to completion. The Central Bank must still sign off.

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