Armenia's international reserves grew by 8.9% in 2022December 9, 2022 - 17:00 AMT PanARMENIAN.Net - As of late November, Armenia's international reserves amounted to $3.5 billion, according to a report from the country's Central Bank. Over the year 2022, intermediate reserves increased by $288 million, or 8.9%, Hetq reports. Throughout the year, the highest level of international reserves was recorded in September, after which it began to decline. The change in international reserves is mainly affected by the increase in public debt, debt service and the sale of foreign currency in the domestic market. Armenia's international reserves are almost entirely held in foreign currency. There is no gold in the reserves. The country's public debt is about $10 billion. As of the end of June, most of the state debt of Armenia (65%) is external debt. 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 | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |