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Guillermo Tolosa: Armenia's National Debt To Make 50% Of GDP By Late

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  • Guillermo Tolosa: Armenia's National Debt To Make 50% Of GDP By Late

    GUILLERMO TOLOSA: ARMENIA'S NATIONAL DEBT TO MAKE 50% OF GDP BY LATE 2010

    PanARMENIAN.Net
    April 9, 2010 - 15:55 AMT 10:55 GMT

    Armenia's national debt will be growing by 2012, then its gradual
    decrease can be expected, according to Mr. Guillermo Tolosa, IMF
    Resident Representative in Armenia.

    As he told a press conference in Yerevan, by the end of 2010 the
    national debt will make 50% of GDP, with the foreign debt amounting
    to 43% of GDP.

    Mr. Tolosa said that IMF report profoundly analyzes Armenia's national
    debt and according to it the debt is stable enough in the mid-term
    aspect if the main parameters envisaged within the framework of IMF
    programs are fulfilled.

    As of December 31, 2009, Armenia's national debt totaled AMD 1270.7
    billion. According to the RA National Statistical Service, the
    domestic debt amounted to AMD 149.7 billion and foreign debt totaled
    AMD 1121.1 billion.
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