NET FOREIGN DEBT OF ARMENIA GROWS BY 295.35 MILLION DOLLARS TO 920.6 MILLION DOLLARS IN 2007

Noyan Tapan
April 21, 2008

YEREVAN, APRIL 21, NOYAN TAPAN. The gross foreign debt of Armenia
amounted to 2 bln 927.33 mln USD in late December 2007, growing by
917.33 mln USD as compared with late December 2006.

According to the RA National Statistical Service, 43% of the gross
foreign debt formed in the state governance system, 14.7% in the
private sector, 6.6% – in monetary and credit regulation bodies,
18.6% – in commercial banks, and 17.1% were foreign direct investments
received as intercompany credits from orgaizations engaged in various
sectors of the economy.

In late December 2007, the gross foreign assets of Armenia made 2 bln
6.73 mln USD, increasing by 621.98 mln USD as compared with December
2006. As a result, the net foreign debt of Armenia grew by 295.35
mln USD to 920.6 mln USD.