Armenia’s Central Bank is another government institution that likes to keep a close lid on how much information about its internal dealings gets out to the public.
When it comes to the millions being spent within its walls, on things like salaries and administrative services, mum’s the word – a veritable state secret.
Thus, it comes as no surprise that top Central Bank officials have been stealthily issuing themselves substantial salary bonuses over the years.
Take the case of Central Bank President Arthur Javadyan. According to his 2014 financial disclosure he purchased a private house worth 54 million AMD (US$113,370). And it’s not Javadyan’s first piece of real estate. He declared two homes and an apartment earlier that same year when he was reappointed as the bank’s president.
And he’s got cash in the bank to play with. In 2014 Javadyan declared 110 million AMD, $470,000, and 160,000 Euros in the bank. His declared revenues stood at 27,685 million, of which 24,560 million were wages. In addition, he received $35, 179 and 2,000 Euros as interest from loans.
Hetq readers might also remember that in 2013 Javadyan paid 24 million AMD for a commemorative coin of 20th Century Armenian Catholicoi. That’s around US$ 50,000 today.
Arthur Javadyan’s wife, Hasmik Manukayan, also has deep pockets. Last year, she declared 60 million AMD, $470,000 and 380,000 Euros. Revenues amounted to 15.362 million, of which 3.637 were wages and the rest interest and rents. She also declared $34,661 and 3,725 Euros in loan interest.
Observant readers will note the discrepancy in Manukyan’s 2013 closing and 2014 opening Euro amount. She closed 2013 with 390,000 and opened 2014 with 380,000.
Now that's some creative bookkeeping for you.