OrbitaxArmenia Reduces Late Payment Penalty for SMEs and Reduces Central Bank Interest Rate
|Approved Changes|Armenia
According to recent reports, Armenia has reduced the late payment interest rate from 0.075% to 0.04% for SMEs impacted by the COVID-19 pandemic. The reduction is effective from 21 April 2020.
In addition to the late payment interest rate, the Central Bank of Armenia decided on 28 April 2020 to reduce the key refinancing interest rate from 5.25% to 5.0%. This follows a cut in the rate from 5.5…
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