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Member Information

Hasmik Ghahramanyan

Hasmik Ghahramanyan

Hasmik Ghahramanyan has been a Board Member of the Central Bank of Armenia since September 13, 2019. Dr. Ghahramanyan plays a pivotal role in the formulation and implementation of the Bank’s monetary and macroeconomic policies and brings extensive expertise in financial stability and economic research. She has been instrumental in introducing the inflation targeting regime in Armenia and in designing the Forecasting and Policy Analysis System.

Hasmik Ghahramanyan is the Chair of the Committee for the Development and Implementation of the Financial Education Program in the Republic of Armenia.

Before her current role, Dr. Ghahramanyan served as Chief Advisor to the Governor of the Central Bank of Armenia from 2017 to 2019. Prior to that, she headed the Monetary and Fiscal Policy Analysis Division within the CBA’s Monetary Policy Department from 2012 to 2017. Since joining the Central Bank in 1995, she has held various positions, including Macroeconomist, Lead Specialist, Senior Specialist, and Specialist within the CBA's Monetary Policy Department and Macroeconomic and Banking Research Center.

In addition to her central banking career, Dr. Ghahramanyan has served as an Expert in the EU TACIS Program’s "Economic Trends in Armenia" Project from 1998 to 2000, and as an Advisor for the World Bank’s Enterprise Development Project in 1998.

Born in Yerevan, Dr. Ghahramanyan holds a PhD in Economics, having completed her dissertation on "Inflation, its Peculiarities, and Issues of Macroeconomic Regulation in the Republic of Armenia" in 2004. She graduated with a Diploma of Excellence from Yerevan State University in 1996, specializing in International Economic Relations from the Faculty of Economics. Dr. Ghahramanyan has pursued further studies in Advanced Management and Leadership at the University of Oxford’s Said Business School in 2021-2022. She holds the European Board Diploma from ECODA, which she received in 2023.

Since 2011, Dr. Ghahramanyan has been a lecturer at the Faculty of Economics and Management at Yerevan State University (YSU). She is also the co-author of the book "Banking" which is taught at YSU. Additionally, she is a member of the Armenian Women on Board of Directors network, where she actively promotes ESG (Environmental, Social, and Governance) agendas and corporate governance approaches. Dr. Ghahramanyan has participated in numerous international trainings hosted by leading institutions such as the German Bundesbank, the Bank of England, the International Monetary Fund, and the World Bank, focusing on monetary policy, financial stability, and central bank communication, ESG.

In recognition of her significant contributions to the development of the economy, Dr. Ghahramanyan has been honored with the "Anania Shirakatsi" medal by the President of the Republic of Armenia.

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