Armenia’s foreign debt reported

Ros Business consulting

RBC, 22.04.2005, Yerevan 09:23:39.The state foreign debt of Armenia
totaled 1.18bn in 2004, the ARKA news agency has reported with
reference to deputy finance and economy minister Atom Dzhandzhugazian,
who presented a report on the implementation of the country’s budget
for 2004.

The minister remarked that the foreign debt to GDP ratio had reached
33.3 percent. Dzhandzhugazian added that this ratio had been decreasing
steadily over the past few years. For example, the corresponding
figure for 1999 was 47 percent.

The overall amount of foreign debts includes the government’s direct
liabilities and guarantees, totaling $965.3m. The minister added that
the total sum of debts rose $85.5m, or 7.8 percent, in December 2004,
compared to that in December 2003, as a result of transactions carried
out in 2004 and changes in the US dollar’s exchange rate against the
main currencies included in Armenia’s foreign debt “basket.”