Armenia’s Foreign Debt Up 20% To $1.4 Bln Year-On-Year

ARMENIA’S FOREIGN DEBT UP 20% TO $1.4 BLN YEAR-ON-YEAR

RIA Novosti
March 11 2008
Russia

YEREVAN, March 11 (RIA Novosti) – Armenia’s foreign debt stood at
$1.449 billion as of January 1, or up 20%, year-on-year, the country’s
state statistics service said on Tuesday.

The debt owed by the government is $1.277 billion, while the Central
Bank of Armenia owes $167 million.

The South Caucasus country’s debt to international financial
organizations stands at $1.203 billion, including $978 million owed
to the World Bank, $157 million to the International Monetary Fund,
$55 million to the International Fund for Agricultural Development
and $11 million to the Organization of Petroleum Exporting Countries.

Armenia’s bilateral loans debt accounts for $245 million, including
$110 million owed to Germany, $90 million to Japan and $39 million
to the United States.