  Armenia's external debt volume nears dangerous limitNovember 26, 2009 - 15:12 AMT PanARMENIAN.Net - Armenia's external debt volume nears a dangerous limit. By the end of 2009, external debt will total USD 3.5 million, said Vazgen Safaryan, the head of Local Manufacturers' Union. "Armenia's external debt increased twice over the last 8 months. External debt -GDP ratio is nearing 46%. Over 50% ratio will label Armenia as an insolvent country," he told a news conference in Yerevan. He informed that by the yearend Armenia's exports will reach USD 600 million, decreasing by 40% compared with 2008, "which spells a significant slump in our manufacturing capabilities". By the end of 2009, imports will comprise USD 3.5 billion against USD 4.4 billion registered in 2008.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Related sections Latest news Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals  Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation.Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan.Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush.Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |
