Armenian Prime Minister Hovik Abrahamyan and other government officials met with representatives from the World Bank and the International Monetary Fund (IMF) to discuss the country's financial stability on Wednesday.

Abrahamyan stressed the importance of stabilizing financial markets and keeping costs on consumer goods reasonable. He also reiterated the importance of the country maintaining its floating exchange rate policy in order to prevent future instability.

The World Bank and IMF representatives praised the government's efforts to stabilize the country's economy and urged government leaders to continue joint efforts with the international financial institutions.

In a statement, Abrahamyan addressed current developments and said global and regional events are to blame for Armenia's current financial woes.

He also stressed that the government is doing what it can to keep the economy stable. He also stated that borrowers should not be concerned because deposits are guaranteed, and the government and the central bank will take any necessary action to protect citizens' deposits.