Armenia’s External Debt Grows By 8.8% In Jan-Sept To $3.2 Billion

ARMENIA’S EXTERNAL DEBT GROWS BY 8.8% IN JAN-SEPT TO $3.2 BILLION

/ARKA/
December 3, 2010
YEREVAN

YEREVAN, December 3, /ARKA/. Armenia’s external debt grew by 8.8% in
the first nine months of 2010 or by $262 million to $3.228.1 billion
or 1.166.3 trillion Armenian Drams, the National Statistical Service
(NSS) said.

It said 82.9% of the debt or $2.675 billion is owed by the government.

Its debt grew by 8.5% or $209.1 million from 2009 December. The Central
Bank’s debt grew by 3.8% in Jan.-Sept. 2010 or by $10.5 million to
$553.1 million to make 17.1% of the total external debt.

Some 67.8% or $2.189.4 billion is owed by Armenia to international
lending organizations. This debt grew by 8.6% from December 2009.

Particularly, the debt to the European Bank for Reconstruction and
Development (EBRD) grew by a factor of five to 6.8 billion Drams as
of September 30, 2010.

Armenia’s debt to the World Bank grew by 2.7% to $1.246.6 billion to
make 38.6% of the total debt. The debt to the International Monetary
Fund (IMF) grew by 19.9% in the first nine months of 2010 to $703.5
million to make 21.8% of the total debt.

Armenia’s debt to the Asian Development Bank grew to $142.5 million
from $126.5 million from December 30, 2009. Armenia’s debt to the
International Fund for Agricultural Development (IFAD) grew to $61.9
million from $60.4 million from December 30, 2009. The country’s debt
to the OPEC Development Fund grew to $28 million from $25 million.

Armenia also owes $500 million to Russia and its debt to Japan grew
by 45.1% in Jan.-Sept 2010, from $270.6 million to $365.4 million.

Armenia owes $135.7 million to Germany. It dropped by 4.9% from
December 2009. The debt to the United States reduced by 4.5% to
$33.1 million and the debt to France fell from $4.83 million to
$4.47 million.

From: A. Papazian