Although the role of banking in the economy is declining in some industrial countries, in developing and transition countries such as Armenia, which has less developed financial market, banks are the only institutions that ...

Since the end of the 80’s, Armenia has been falling into a deeper and deeper economic crisis. The reasons are many and include: the disrupted traditional economic ties with the republics of former USSR, the blockade imposed ...

At present, Armenia is emerging from a period of considerable economic problems caused by natural disaster in 1988, and social and political upheavals entailing the collapse of the Soviet Union, severe war in Nagorno-Karabakh ...