August 8 Washington declaration is rewriting Armenia`s financial  landscape - Amundi-ACBA

ArmInfo.  When examining the yield curve of Armenian bonds in our portfolio during the period following the signing of  the Washington Declaration of August 8,  2025, a significant decline is recorded,   as stated by Hrayr  Aslanyan, Chief Investment Officer and Fund Manager at Amundi-ACBA  Asset Management, at a press conference on February 3, in response to  a question from ArmInfo.

According to him, the decline in securities yields is partly due to  general trends in global emerging markets, however, there is also a  specific internal Armenian situation. "Firstly, we must consider  internal factors- the presence of excess liquidity in the market, and  secondly, the positive backdrop resulting from the signing of the  joint declaration," he clarified. Additionally, it's important to  consider the relatively stable exchange rate of the Armenian  currency, as well as the successful efforts of the Central Bank of  Armenia to maintain the country's inflation level. All these factors,  as Hrayr Aslanyan emphasized, have led to an increase in interest  from foreign investors regarding Armenian government bonds, which  resulted in a decline in their yields by more than 15%.

It's worth noting that two companies operate in Armenia  managing the  MPFs (funds generated by the mandatory funded pension system):  Amundi-ACBA Asset Management and C-Quadrat Ampega Asset Management  Armenia. The shareholders of the first are the French company Amundi,  which manages assets of over 2.32 trillion euros in 35 countries, and  the Armenian Acba Bank. The second is the Austrian investment company  C-Quadrat Investment AG and the German  Talanx Asset Management. With  approximately 150 billion euros in assets, Talanx Asset Management  GmbH is one of the largest insurance and financial groups in Europe,  represented in 150 countries. As of December 2025, the number of  participants in the three Amundi-ACBA funds reached 558,000, with  assets under management totaling 750 billion drams.

Recall, on August 8, Armenian Prime Minister Nikol Pashinyan and  Azerbaijani President Ilham Aliyev signed a joint seven-point Peace  Declaration  in Washington. It envisages a joint appeal to the  Organization for Security and Cooperation in Europe (OSCE) to  terminate the OSCE Minsk Process and related structures, as well as  the creation of a transport corridor through Armenian territory that  will connect Azerbaijan with its Nakhchivan exclave, surrounded by  Armenia, Turkey, and Iran. This project, called TRIPP (Trump Route  for International Peace and Prosperity), envisions the transfer of a  42-kilometer border road with Iran in southern Armenia to US control  for 99 years. This project, according to experts, is capable of  significantly changing the geopolitical situation in the South  Caucasus.