ARMENIA’S FOREIGN DEBT ON RISE

Armenpress
Oct 4, 2005

YEREVAN, OCTOBER 4, ARMENPRESS: Armenia’s foreign debt is expected
to stand at $1.227 billion by the end of the year, deputy economy
and finance minister Pavel Safarian said today.

He said Armenia’s next year’s budget includes $107.9 million in
credits, of which $95.202 million under government liabilities. The
budget also foresees $50.2 million in re-payment of the debt. By the
end of next year the overall foreign debt will increase further making
$1.285 billion. In 2006 Armenia expects loans from International
Development Agency, International Fund for Agricultural Development
(IFAD), German KfW and the International Japanese Cooperation Bank.