Armenia's debt service coverage to comprise $123 million in 2010

PanARMENIAN.Net - Armenia's 2010 state debt service coverage will comprise $123 million, Gagik Minasyan, Chair of NA Committee on Financial-Budgetary Affairs, told today a news conference in Yerevan.



At that he noted that Armenian government has attracted enough credits for mitigating crisis impact and reducing social expenditures. "Armenia is not a special country in that regard since the method is used by many other countries," he said. In that context, Minasyan brought the example of Russia, the world's biggest energy bearer, which managed to accumulate a reserve fund in 2009 and use its lion's share by 2010.



Along with other countries, Armenia is conducting talks with international organizations over restructuring the credits attracted, Minasyan added. "Negotiations with international financial organizations are already under way, and that will alleviate the country's burden in terms of paying off state debts," Chair of parliamentary committee said.