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Armenia's Foreign Debt Up 20% To $1.4 Bln Year-On-Year

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  • Armenia's Foreign Debt Up 20% To $1.4 Bln Year-On-Year

    ARMENIA'S FOREIGN DEBT UP 20% TO $1.4 BLN YEAR-ON-YEAR

    RIA Novosti
    March 11 2008
    Russia

    YEREVAN, March 11 (RIA Novosti) - Armenia's foreign debt stood at
    $1.449 billion as of January 1, or up 20%, year-on-year, the country's
    state statistics service said on Tuesday.

    The debt owed by the government is $1.277 billion, while the Central
    Bank of Armenia owes $167 million.

    The South Caucasus country's debt to international financial
    organizations stands at $1.203 billion, including $978 million owed
    to the World Bank, $157 million to the International Monetary Fund,
    $55 million to the International Fund for Agricultural Development
    and $11 million to the Organization of Petroleum Exporting Countries.

    Armenia's bilateral loans debt accounts for $245 million, including
    $110 million owed to Germany, $90 million to Japan and $39 million
    to the United States.
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