ARMENIA HAS BEST FOREIGN DEBT PORTFOLIO IN REGION

ARKA News Agency, Armenia
Dec 14 2006

YEREVAN, December 13. /ARKA/. Armenia has the best foreign debt
portfolio in the region.

Head of Department for Foreign Debt Management, RA Ministry of Finance
and Economy, Arshaluys Margaryan said that the portfolio is formed
of loans with a zero interest rate, a 30-40-year-long repayment term
and a 10-year grace period. "The grace period of the first loans has
expired, that of the others will expire in two years’ time. We are
currently repaying loans and paying loan service costs," he said.

Margaryan pointed out that repayment amounts do not seriously affect
the country’s budget.

According to international standards, Armenia is among the countries
with light debt burden, Margaryan said.

Armenia’s foreign debt had totaled $1168.1mlb by September 30, 2006,
with a 21% share in GDP against 22% in 2005.