On 15 March this year, the Scientific-Analytical Center of Constitutional Economics jointly with the CBA "Economic Education and Research Support Center" has organized a meeting within the framework of the topic entitled "Independence of the Central Bank as an Important Norm of the RA Constitution", during which the research works carried out on the independence of the Central Banks were discussed.

Let's  note that Armenak Darbinyan member of the Board of the Central Bank of Armenia, Hasmik Ghahramanyan Chief advisor to CBA chairman, Professor Hayk Sargsyan Director of the Center and researchers Varsenik Sargsyan and Zhirayr Mkhitaryan  were present at the meeting.

 The CBA coordinates the primary goal with the Government of Armenia, as stipulated by the Armenian Law on State Budget, and approved by the National Assembly of Armenia.

Safeguarding and maintaining the stability of financial system is of primary importance to central banks of most countries.

This is because low inflation and unemployment and fast economic growth, as common objectives of monetary and other state authorities, cannot be achieved in the modern economy without a developed and stable financial system through which the effects of monetary policy measures can be effectively channeled to other economic sectors.

The GMT index was calculated in 1991 (Grilli, V., D. Masciandaro, and G. Tabellini, 1991, “Political and Monetary Institutions and Public Fiancial Policies in the Industrial Countries,” Economic Policy, Vol. 12, pp. 341-392) and recalculated in 2006 (Arnone, M., B. Laurens, and Jean-Francois Segalotto, 2006, “Measures of Central Bank Autonomy: Empirical Evidence for OECD, Developing, and Emerging Market Economies,” IMF Working Paper, WP/06/228).