YEREVAN, FEBRUARY 7, ARMENPRESS: The pension reforms and the local corporate bond market are crucial for the formation of capital market of Armenia. The stable development of the financial system and the diversification are the key directions of the Central Bank's strategy and the precondition to achieve those goals is the existence of a developed capital market in Armenia.
The President of the Central Bank of the republic of Armenia Arthur Javadyan told about it at the opening of the conference devoted to the capital market in Armenia. "The further development of the capital market in Armenia is connected with the pension reforms. Through the developed capital market, the pension savings can be directed to different economic sectors and foster the economic development in our country. They will create a stable demand high-quality, marketable instruments. Thus we should direct quality issuers to the capital market, which will bring new financial instruments. The further development of the capital market includes also the formation of the corporate bond market and the creation of the currency and interest rate markets targeting at the formation of the marketable stock market to attract new capital", - said Javadyan, Armenpress reports.