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Greece agrees to launch debt swap for private creditors March 8

PanARMENIAN.Net - Greece's cabinet agreed on Saturday, Feb 18, to launch a debt swap for private creditors on March 8 with the aim of completing it by March 11, Reuters quoted a government official as saying.

The swap is to accompany a $130 billion rescue package that Athens hopes to agree with its euro zone partners on Monday and will mean that creditors take a 70 percent cut in the real value of their holdings.

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“The investments will be spent to build a canning factory and slaughterhouses, expand greenhouse farms,” Ignati Arakelyan said.
The funding will go to a subsidiary of ContourGlobal, an international power-generation company that acquired the Vorotan Cascade in 2015.
"We are yet unable to disclose the names of companies we are conducting negotiations with," Satenik Hovhannisyan said.
1,259,657 tourists have arrived in Armenia in January-December 2016, the National Statistical Service said, up by 5,7% on the year before.
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