Armenian foreign debt shrinks by 2.5% in H1

Interfax
Sept 6 2004

Yerevan. (Interfax) – Armenia’s foreign debt fell 2.5% from the
beginning of the year to $1.07 billion in the first half of 2004,
the country’s Finance and Economic Ministry told Interfax.

The debt fell 0.8% year-on-year in the half.

Government debt accounted for 79.3% of total foreign debt, or $849.2
million. It grew 0.1% in the twelve months from June 2003 and it fell
2.6% in the six months from January 1, 2004.

The Armenian Central Bank’s debt was $211.4 million at the end of June,
or 19.8% of total debt, and it fell 1.5% in the half. The Central
Bank’s debt grew 3.8% in the twelve months from the end of June 2003.

Armenia’s debt before the World Bank grew 15.6% for the year to $685.7
million. Its debt to the International Monetary Fund increased 3.8%
over the year to $211.4 million.