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ARMENIA STEPS OUT OF GROUP OF POOR COUNTRIES: MINISTER OF FINANCE
13:32, 3 October, 2013
YEREVAN, OCTOBER 3, ARMENPRESS. The Republic of Armenia can no more
receive loans from the World Bank and International Monetary Fund
on privileged conditions, as in accordance with the ratings of the
international financial organizations our country stepped out of the
group of poor states and transferred to the group of countries with
average income. As reports "Armenpress" the Minister of Finance of the
Republic of Armenia Davit Sargsyan stated this at the course of the
session of the Government of the Republic of Armenia held on October 3.
Among other things the Minister of Finance of the Republic of
Armenia Davit Sargsyan underscored: "We shall not receive any more
loans on privileged conditions, hence we must find financial means by
ourselves. The issue of Eurobonds with total value of USD 700 million
is conditioned by this factor."
Armenia allotted first Eurobonds in the international capital market
on September 19. The main distributors such as Deutsche Bank AG, HSBC
Bank plc, and J.P.Morgan Securities plc have already successfully
finished the first allotment. The amount must be USD 700 million,
date of redemption - seven years, percentage - 6 percent. Armenia's
rating was assessed as Ba2 stable by Moody's and BB- stable by Fitch.
Previously, the Minister of Finance of the Republic of Armenia Davit
Sargsyan noted that the international experts of the realm highly
appreciated the results of the distribution of the first sovereign
Eurobonds and the entrance of Armenia to the international capital
market is considered to be successful.
© 2009 ARMENPRESS.am
http://armenpress.am/eng/news/735296/armenia-steps-out-of-group-of-poor-countries-minister-of-finance.html
13:32, 3 October, 2013
YEREVAN, OCTOBER 3, ARMENPRESS. The Republic of Armenia can no more
receive loans from the World Bank and International Monetary Fund
on privileged conditions, as in accordance with the ratings of the
international financial organizations our country stepped out of the
group of poor states and transferred to the group of countries with
average income. As reports "Armenpress" the Minister of Finance of the
Republic of Armenia Davit Sargsyan stated this at the course of the
session of the Government of the Republic of Armenia held on October 3.
Among other things the Minister of Finance of the Republic of
Armenia Davit Sargsyan underscored: "We shall not receive any more
loans on privileged conditions, hence we must find financial means by
ourselves. The issue of Eurobonds with total value of USD 700 million
is conditioned by this factor."
Armenia allotted first Eurobonds in the international capital market
on September 19. The main distributors such as Deutsche Bank AG, HSBC
Bank plc, and J.P.Morgan Securities plc have already successfully
finished the first allotment. The amount must be USD 700 million,
date of redemption - seven years, percentage - 6 percent. Armenia's
rating was assessed as Ba2 stable by Moody's and BB- stable by Fitch.
Previously, the Minister of Finance of the Republic of Armenia Davit
Sargsyan noted that the international experts of the realm highly
appreciated the results of the distribution of the first sovereign
Eurobonds and the entrance of Armenia to the international capital
market is considered to be successful.
© 2009 ARMENPRESS.am
http://armenpress.am/eng/news/735296/armenia-steps-out-of-group-of-poor-countries-minister-of-finance.html