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 […]

Why Russia and Ukraine are not trading on a silver bullet

The United States is not likely to sign a bilateral trade agreement with Russia or Ukraine in the near future because of their geopolitical challenges and trade barriers, according to the country’s chief economic adviser.The president of the United States has repeatedly said that the United Kingdom and the EU should join the Transatlantic Trade […]

IMF suspends asset purchase program after Kazakhstan’s economic problems

Kazakhstan is suspending its program of buying foreign assets, including $3 billion worth of U.S. Treasury bonds, according to a statement posted to its website.The move comes after Kazakhstan has said that it would cut its deficit in half by the end of the year.The decision is the latest blow to the U.N. economic agency, […]

How to read the US GDP numbers: How to make sense of what’s happening

As the US economy starts to show signs of slowing down, many economists are trying to figure out how to interpret the numbers.The latest jobs report shows that employment in the US is down for the second straight month.But it also shows that Americans’ earnings growth is slowing, and they’re looking for a raise in […]