Armenia’s Foreign Debt Down 3.8%

ARMENIA’S FOREIGN DEBT DOWN 3.8%
Armenpress
Jun 21 2006
YEREVAN, JUNE 21, ARMENPRESS: Armenia’s overall debt by the end of
March was around 533 billion Drams, of which 52.3 billion was domestic
debt and the rest, which in terms of US Dollars amounted to $1.110
billion, was foreign debt.
According to Armenian economy and finance ministry, the volume of
foreign debt was down 3.8 percent form a year ago. Armenia owes
the bulk of its foreign debt, almost 69 percent, or $764 million,
to World Bank and 15.6 percent or $173 million to the International
Monetary Fund (IMF).
Armenia has also borrowed from Germany-$72.2 million, $40 million from
the USA, $41.1 million form the International Fund for Agricultural
Development (IFAD). It owes also to EBRD, France and some other
organizations.