Central Bank of Armenia Governor Martin Galstyan expressed hope that uncertainties surrounding the Electric Networks of Armenia (ENA) company will be resolved soon.
He made the remarks in response to a question on how Moody’s downgrade of ENA’s long-term corporate credit rating might affect Armenia’s financial stability and investment climate, Aysor.am reports.
“I am hopeful that the uncertainties around ENA will be resolved quickly, so the rating downgrade will be short-term. I don’t think this will have long-term consequences, especially on financial stability,” Galstyan stressed.
On July 22, 2025, the emergency arbitration of the Stockholm Chamber of Commerce ordered Armenia to refrain from applying recently adopted provisions of the “Law on Energy” and the “Law on the Public Services Regulatory Commission” to ENA and to halt further steps toward possible expropriation of the company.
The Armenian government later responded, stating that the scope of the dispute differs from the purpose of appointing a temporary manager for ENA. While respecting the ruling, officials noted that all parties remain bound by Armenian legislation.
