YEREVAN: ARMENIA’S FOREIGN DEBT TO HIT $1.2 BILLION IN LATE 2005

RIA Novosti, Russia
Oct 17 2005

Armenia’s foreign debt will stand at $1.2 billion in late 2005,
the deputy finance and economy minister said Monday.

Atom Dzhandzhugazyan told a parliamentary session on the 2006 draft
budget that Armenia’s foreign debt would grow by $43.9 million year
on year.

He also said Armenia would repay $50.2 million and $10.9 million in
interest next year. After that, he said Armenia’s foreign debt would
stand at $1.3 billion, or 25.1% of the planned GDP, in late 2006.

“The republic will face no serious problems from the standpoint of
foreign debt repayment,” Dzhandzhugazyan said. “Armenia is considered
a country with a medium and even low debt burden.”

From: Emil Lazarian | Ararat NewsPress