Armenia’s Foreign Debt Grows By $45 Mln In 1q07, To $2.1 Bln

ARMENIA’S FOREIGN DEBT GROWS BY $45 MLN IN 1Q07, TO $2.1 BLN

RIA Novosti, Russia
July 3 2007

YEREVAN, July 3 (RIA Novosti) – Armenia’s gross foreign debt grew
by $45.2 million in the first three months of 2007, to $2.1 billion
as of April 1, the national statistics service of the South Caucasus
republic said Tuesday.

The Armenian government’s foreign debt stood at $1.0 billion, the
private sector’s foreign liabilities amounted to $367.5 million,
monetary authorities owed $185.1 million and commercial banks $201.5
million, while direct foreign investment in the form of loans totaled
$292.1 million, the service said.

Long-term liabilities accounted for 68.9% ($1.4 billion) of the
republic’s foreign bill.

Armenia’s gross foreign assets increased by $27.3 million in the
reporting period to $1.4 billion as of April 1, the statistics
service said.

As a result, Armenia’s net foreign debt grew by $72.5 million, to
$718.4 million in the reporting period, the statistics service said.