He was born on January 29, 1960.In 1978, he graduated from Yerevan Technical School No.14 and went to Yerevan Institute of National Economy. In 1980, he transferred to Leningrad Institute of Economics and Finance named after N. A. Voznesenski, where in 1983 he graduated with an honours degree. In 1987, he completed his postgraduate studies and defended his thesis on the topic «Planning Regional Socio-Economic Development with Armenia as a Case Study». He has earned a Ph.D In Economics.From 1987 to 1990, he worked as senior researcher, head of the international economic relations group in the Scientific Research Institute of Economy and Planning.From 1990 to 1995, he served as Deputy of the Supreme Council of the Republic of Armenia, Chairman of the Standing Committee on Financial, Credit and Budgetary Affairs of the Supreme Council of the Republic of Armenia, and Member of the Presidium of the Supreme Council.From 1995 to 1998, he was the President of the Association of Banks of Armenia.From 1998 to 2008, he held the position of the Chairman of the Central Bank of the Republic of Armenia.From 2008 to 2014, he was the Prime Minister of the Republic of Armenia.From 2014 to 2016, he served as Ambassador Extraordinary and Plenipotentiary of the Republic of Armenia to the United States.From February 1, 2016 until February, 2020 he occupied the position of Chairman of the Board of the Eurasian Economic Commission.By the Presidential Decree of the Republic of Armenia, he was awarded the Medal for Service to the Fatherland, 1st class. He was awarded the Anania Shirakatsi Medal. He holds the title of honorary doctor of the Armenian State University of Economics.