THE DEBT OF ARMENIA IS BETTER THAN THAT OF OUR NEIGHBORS
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[10:32 pm] 11 December, 2006
The quantity of the debt is not important: what is important is that
in case of having debts the country is in better conditions than
its neighbors. At least this is what our officials think when they
speak about the external debt of Armenia mentioning "We have the best
debt portfolio".
As for the "best" part of the debt, representative of the RA Ministry
of Finance and Economy Arshaluys Margaryan says, "Our ‘tax portfolio’
does not contain strict responsibilities, the interest is 0%, and
the term is 10 years".
At present the external debt of Armenia is 1 billion 168 million
AMD. The majority of the debt, 1 billion 95 million AMD, is that of
the Government: the debt of the Central Bank is 166 million.
The majority of the external debt, about 70%, is that of the World
Bank.
As for the internal debt, it will be 58 billion 160 million 933
thousand AMD till December 31.