  RA government to save up to USD 15mln for state debt servicing October 14, 2010 - 12:55 AMT PanARMENIAN.Net - On October 14, the Armenian government approved signing of an agreement with the International Monetary Fund (IMF), which envisages introduction of changes in the agreement signed between the two structures earlier. Armenian Minister of Finance Tigran Davtyan said that, under the crisis conditions, Armenia managed to urgently attract from the IMF a disbursement at the amount of SDR 202.4mln under a Stand-by Arrangement in 2009. According to Davtyan, in July 2010 the IMF Executive Board decided to change the terms of SDR 74.8mln (over USD 100mln) loan envisaged for Armenia. The Minister added that 5 years had been envisaged for its repayment earlier, while the introduced changes have prolonged the term to 10 years with a 5-year grace period at 0% rate. “These are unprecedented conditions for state debt servicing, while we will manage to save USD 10-15mln as a result of the debt restructuring,” said Davtyan.   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 |  Latest news U.S. warns Georgia not to side with Moscow against the west  Georgia has been warned by the U.S. not to become an adversary of the west by falling back in line with Moscow.Power of One Dram sums up two-year program with Teach for Armenia Idram Junior also joined the companies during the visit, bringing with it a fascinating intellectual game for childrenMoscow slams EU mission in Armenia for “provocative activity” The EU mission is doing more and more against Armenia’s neighbors Russia, Azerbaijan and Iran, Mikhail Galuzin said.Yerevan Mayor to travel to Paris on May 15-19 The official delegation headed by Yerevan Mayor Tigran Avinyan will travel to Paris from May 15 to 19. |
