Armenia: Bank of Armenia to hold $3.5bn cash on hand to cover its capital shortfall

The Bank of Archerabad will hold $1.5 billion cash on its books to cover the shortfall in its capital stock, Armenia’s economy ministry said on Tuesday.Armenia’s central bank has a $9.7 billion emergency cash cushion.The money will be used to cover capital expenditure, pay down debt, pay dividends and repay debt.The bank said it will […]