The final discussion at Amundi-Acba Economic Forum was about geopolitics in South Caucasus and its impact on the economy of Armenia. The topic was presented in the format of an interview with the participation of Martin Galstyan, President of the Central Bank of Armenia, and Frederic Encel, Scholar of Geopolitical Sciences, Lecturer at Sciences Po the Institute of Political Studies in Paris. The interview was conducted by Jean Mazedjian, the CEO of Amundi-Acba.

In his speech regarding the regional realities, Frederic Encel mentioned that as representatives of the Armenian collective, we should be able to present our identity, understand what goals we and our opponents have. We should be perfectly well aware of their strategy and tactics. According to his observation, in the context of geopolitics, the first thing is the balance of powers. State sovereignty plays a crucial role. 

As for the geographical location of the countries, the position of the Caucasus and especially Armenia is special and geopolitically it has a great value, despite having a small area and population. War is not something new. Nowadays, there are many crises in the world and uncertainty is increasing by the day. The economic sphere is especially sensitive to it, since it is subject to these fluctuations directly. Taking into consideration the global political developments, it is important to address this issue in the context of Armenia, how it affects the country's economy. Since the uncertainties are increasing by the day: how should the Central Bank act? How should it ensure financial stability? In response to these questions, Martin Galstyan, the Governor of the Central Bank of Armenia, said that the Central Banks are not institutions which make predictions, their capabilities are limited and regardless of whether they are located in developed or developing countries, they have important functions, namely, ensuring financial stability, monetary policy, fighting against inflation and macroeconomic stability. In recent years, they have been building scenarios, which help them manage the risks, and inform the public what thoughts the Central Bank Board have.

During the forum M. Galstyan emphasized that as a result of general geopolitical developments, interest in Armenia has increased, which has contributed to creating a more favorable economic environment. As a result of the Russian-Ukrainian conflict many moved to Armenia and its economic impact is also significant, especially in the case of some sectors, however, we should also be prepared for possible developments if the relocated people decide to leave the country.

The "peace agreement" was at the core of the discussion, which according to Ansel, is very likely to be signed, and that the opening of the Armenian-Turkish border is conditioned upon the agreement. He believes that this will contribute to the development of the economy of Armenia.

Referring to the fears regarding the opening of the Armenian-Turkish border, Martin Galstyan noted that it is necessary to be ready and increase the capacity to develop and execute a smart policy in Armenia. According to his assessment, we should be prepared for possible scenarios affecting the economy and have a set of tools to respond to the situation. Most importantly, we should bring new ideas, enhance the knowledge, develop the capacities, instead of fear.