Armenia's Bank Anelik recently announced that customers can now make international money transfers through Intel Express at any branch office.
Intel Express is part of the bank's 2014 strategy aimed at introducing new banking services and retail products, according to Vardan Gevorgyan, the vice-chairman of Bank Anelik's board and head of retail trade.
Since 1995, Armenia has registered strong economic growth and inflation has been low, earning the country increasing support from international institutions.
The International Monetary Fund and the World Bank are among those who have extended considerable grants and loans aimed at reducing the budget deficit, stabilizing the local currency, developing private businesses, and building up the health and education sectors.
Continued progress will depend on the ability of the government to strengthen its macroeconomic management, including increasing revenue collection, improving the investment climate and accelerating privatization.
A law on privatization, as well as a program on state property privatization, was adopted in 1997.
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