Guillermo Tolosa: Armenia’s national debt to make 50% of GDP by late 2010

April 9, 2010 – 15:55 AMT 10:55 GMT
PanARMENIAN.Net –

Armenia’s national debt will be growing by 2012, then its gradual
decrease can be expected, according to Mr. Guillermo Tolosa, IMF
Resident Representative in Armenia.

As he told a press conference in Yerevan, by the end of 2010 the
national debt will make 50% of GDP, with the foreign debt amounting to
43% of GDP.

Mr. Tolosa said that IMF report profoundly analyzes Armenia’s national
debt and according to it the debt is stable enough in the mid-term
aspect if the main parameters envisaged within the framework of IMF
programs are fulfilled.

As of December 31, 2009, Armenia’s national debt totaled AMD 1270.7
billion. According to the RA National Statistical Service, the
domestic debt amounted to AMD 149.7 billion and foreign debt totaled
AMD 1121.1 billion.