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Armenian National Congress MP Demands Explanation For $700m Eurobond

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  • Armenian National Congress MP Demands Explanation For $700m Eurobond

    ARMENIAN NATIONAL CONGRESS MP DEMANDS EXPLANATION FOR $700M EUROBOND SALE

    21:37 01.10.13

    Hrant Bagratyan, an Armenian National Congress (ANC) parliamentary
    group member, made a statement on the sale of $700m Eurobonds by
    Armenia's government.

    "However you explain the situation, you cannot borrow 700 million
    dollars without discussing the issue in Parliament. I think it is
    a serious harm to our statehood," Bagratyan stated in Parliament
    on Tuesday.

    According to him, the actual interest rate is 9% rather than the
    claimed 6.5%. "It is unacceptable. I am accusing the whole cabinet led
    by President Serzh Sargsyan, as well as most of the MPs. How can the
    national debt increase by $700 million? Armenia's total national debt
    has reached $8.5 billion - 90% of GDP. And this allegedly happened
    without the Parliament's consent? Where are we?"

    Armenian News - Tert.am

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