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Armenia's Foreign Debt Up 27% Year-On-Year To $1.6bln On April 1

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  • Armenia's Foreign Debt Up 27% Year-On-Year To $1.6bln On April 1

    ARMENIA'S FOREIGN DEBT UP 27% YEAR-ON-YEAR TO $1.6BLN ON APRIL 1

    RIA Novosti
    June 2 2008
    Russia

    YEREVAN, June 2 (RIA Novosti) - Armenia's foreign debt grew 26.9%
    year-on-year to $1.55 billion as of April 1, 2008, the South Caucasus
    country's national statistics body said on Monday.

    The Armenian government's foreign debt stood at $1.37 billion,
    while the liabilities of the Central Bank totaled $172 million,
    the statistics service said.

    The government's foreign debt comprised liabilities to international
    financial institutions, including the World Bank ($1.05 billion),
    the International Monetary Fund ($161 million), the International
    Fund for Agricultural Development ($58 million), and the OPEC Fund
    for International Development ($13 million).

    Armenia's debt to creditor nations stood at $270 million, of which
    $124 million was owed to Germany, $103 million to Japan and $38
    million to the United States, the statistics service said.
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