NET FOREIGN DEBT OF ARMENIA GROWS BY 46.54 MILLION DOLLARS TO 762.76
MILLION DOLLARS IN THIRD QUARTER OF 2007

YEREVAN, DECEMBER 28, NOYAN TAPAN. The gross foreign debt of the
Republic of Armenia amounted to 2 bln 421.04 mln USD in late September
2007, growing by 159.87 mln USD as compared with late June 2007.

According to the RA National Statistical Service, 46% of the gross
foreign debt formed in the state governance system, 16.4% – in the
private sector, 7.8% – in monetary and credit regulation bodies, 14.7%
– in commercial banks, and 14.2% was formed as direct foreign
investments and interfirm credits received by organizations engaged in
various sectors of the economy.

The gross foreign assets of the RA made 1 bln 658.28 mln USD as of late
September 2007, increasing by 113.32 mln USD in the third quarter of
2007. As a result, the net foreign debt of the RA grew by 46.54 mln USD
to 762.76 mln USD.