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ARMENIA TAKES FROM RUSSIA A LOAN NOT GIVEN BY EU FOR BRIBERY OF VOTERS
Azerbaijan Business Center
July 11 2012
Baku, Fineko/abc.az. Armenia'sn attempt to escape from the CIS under
the wing of the European Union, declared in the course of the Yerevan
visit of EU President Herman Van Rompuy, was not crowned with success:
Europeans did not give a 1.5 billion euro loan to Armenia for future
presidential election, and the Yerevan ruling regime has gone cap in
hand to Putin's Russia.
According to the Armenian media, the Armenian authorities have already
started negotiations with the Russian government about a large loan,
perhaps even under a higher rate.
Armenian sources say of the loan of $1 billion and the Russian about
$0.8-1 billion. The loan purpose is not specified, the rates are not
known, but it is openly declared Yerevan's desire to get the money
before the end of 2012, as Armenia will hold presidential election
in February.
The piquancy of the situation is added not only by the fact of obvious
attempt to bribe voters, but that the regime in Yerevan is ready to
take a new loan from Russia, not having paid off the previous loan:
$0.5 billion for 15-year term at a rate of LIBOR+3%, given in June
2009 for support of the Armenian economy.
"The pre-election loan" will exacerbate already growing debt problems
in Armenia. Already today, its state debt is equivalent to 42.6%
of GDP and external debt to 36.1%. The possible "loan for bribe of
the voters" will increase Armenia's foreign debt up 46.2% of GDP and
state debt up to 52.6%.
Azerbaijan Business Center
July 11 2012
Baku, Fineko/abc.az. Armenia'sn attempt to escape from the CIS under
the wing of the European Union, declared in the course of the Yerevan
visit of EU President Herman Van Rompuy, was not crowned with success:
Europeans did not give a 1.5 billion euro loan to Armenia for future
presidential election, and the Yerevan ruling regime has gone cap in
hand to Putin's Russia.
According to the Armenian media, the Armenian authorities have already
started negotiations with the Russian government about a large loan,
perhaps even under a higher rate.
Armenian sources say of the loan of $1 billion and the Russian about
$0.8-1 billion. The loan purpose is not specified, the rates are not
known, but it is openly declared Yerevan's desire to get the money
before the end of 2012, as Armenia will hold presidential election
in February.
The piquancy of the situation is added not only by the fact of obvious
attempt to bribe voters, but that the regime in Yerevan is ready to
take a new loan from Russia, not having paid off the previous loan:
$0.5 billion for 15-year term at a rate of LIBOR+3%, given in June
2009 for support of the Armenian economy.
"The pre-election loan" will exacerbate already growing debt problems
in Armenia. Already today, its state debt is equivalent to 42.6%
of GDP and external debt to 36.1%. The possible "loan for bribe of
the voters" will increase Armenia's foreign debt up 46.2% of GDP and
state debt up to 52.6%.