 Armenia's foreign debt to reach 36 per cent of GDP by late 2009January 20, 2010 - 18:41 AMT PanARMENIAN.Net - Armenia's foreign debt will reach 36 per cent of GDP in 2009, against 13.2 per cent in 2008. According to the annual report of the Armenia's finance ministry, presented by the minister of finance Tigran Davtyan , more than a half of the foreign debt is formed from loans granted for a 35-40 year-period with 7 to 10 years grace period. The weighted average annual interest rate of confessional loans reached 0.8 per cent. The national debt will amount to AMD 140.6 billion or 4.5 per cent relative to GDP at the end of 2009. In 2009, government bonds were in circulation 1,391 days on average, compared to 1,535 days in the previous year.   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 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. |
