ARMENIAN CAPITAL MARKET: NEW OPPORTUNITIES AND CHALLENGES

07.02.2014

On the heels of Armenia's highly successful Eurobond benchmark, Armenia is preparing to launch an obligatory funded pension system starting in 2014 that will create significant demand for domestic capital market assets. Co-organized by European Bank of Reconstruction and Development (EBRD), NASDAQ OMX Armenia and the Central Bank of Armenia, this conference aims to address further development of the financial infrastructure, and attract both issuers and investors of the Armenian capital market. The conference will focus on (i) the institutional and regulatory landscape, (ii) the market's view on capital market development, (iii) innovative financial instruments, and (iv) IFIs co-financing programs.

The workshop will also provide an opportunity for EBRD to highlight work toward IFI issuance on the local market and provide visibility for EBRD's new local corporate bond framework program.

Opening Speech:

  1. Mr. Arthur Javadyan, Chairman, Central Bank of Armenia
  2. Mr. David Sargsyan, Minister of Finance of the Republic of Armenia
  3. Mr. Andre Kuusvek, Director, Local Currency and Capital Markets Development, EBRD

Session 1. Capital Market Opportunities and Challenges in the Global Context for Armenia

  1. Ms. Teresa Daban Sanches, Resident Representative, IMF, "Recent Developments in Global Economy and Implications for Armenia" (.pdf, 16.3 Mb)
  2. Mr. Timothy T. Ash, Chief Economist for EM, Standard Bank
  3. Mr. Cleber Trindade, EM Sales & Trading, Standard Bank

Session 2. Armenian Capital Market Development

  1. Mr. Konstantin Saroyan, CEO, NASDAQ OMX Armenia, "Armenian Capital Market Infrastructure"
  2. Mr. Arshaluys Margaryan, Head of Department of Public Debt Management, the RA Ministry of Finance, "Armenia's Eurobond Program and Performance" (.pdf, 751 Kb)
  3. Mr. Jim Turnbull, Senior Pension Capital Markets Advisor, EBRD, "Local Capital Markets in Armenian the Context of Pension Reform"

Session 3. Capital Market Development in Georgia

  1. Mr. Archil Mestrivishvili, Deputy President, National Bank of Georgia, "Georgian Regulatory and Institutional Framework for Local Capital Markets" (.pdf, 23.2 Mb)
  2. Mr. Irakli Kirtava, General Director, Bank of Georgia (BG Capital), "Capital Market Trends in Georgia" (.pdf, 11.4 Mb)
  3. Mr. Elene Tskhadaia, Head of Custody and Securities Settlement Unit, Bank of Georgia, "Capital Market Trends in Georgia"

Presentation: IFI issuance in the Armenian Local Market

  1. Ms. Isabelle Laurent, Deputy Treasurer, EBRD, "Local Currency Financing" (.pdf, 36.3 Mb)
  2. Mr. Arman Barkhudaryan, Senior Investment Office, IFC, "Developing Local Capital Markets" (.pdf, 350 Kb)

Panel Discussion: Market Participant Views of Armenia Capital Market Development Strategy and Prospects

Chair: Mr. Andre Kuusvek, Director, Local Currency and Capital Markets Development, EBRD, "The local capital market's view on Armenian capital market development"

Panelists:

  • Mr. Arno Mosikyan, Director Investment Banking, Ameria Bank
  • Mr. Gevorg Machanyan, Executive Director, Armswissbank
  • Mr. Thies Clemenz, CEO, HSBC Armenia
  • Ms. Nazely Mardirossian, Senior Vice President, Clear Stream
  • Mr. Dmitri Surkov, Managing Director, Fitch
  • Mr. Philippe Rousseau, CEO, AMUNDI-ACBA ASSET MANAGEMENT ARMENIA
  • Mr. Arman Vardanyan, CEO, C-QUADRAT AMPEGA ASSET MANAGEMENT ARMENIA

 

Media Partners of the Conference:

Forbes Armenia Business Magazine               Depozitarium Industry Magazine

               

Updated as of: 10.04.2017