External debt of Armenia’s banks and credit organizations fetches up $1041.6 mln in 2Q

04.09.2012 16:44
External debt of Armenia’s banks and credit organizations fetches up $1041.6 mln in 2Q

YEREVAN, September 4. /ARKA/. The external debt of the commercial banks and credit organizations  in Armenia  rose by 19.6%  to $1041.6 million as of the second quarter 2012 versus $871 million from a quarter earlier.

According to the Central Bank of Armenia, the banks and the credit organizations of Armenia borrowed  $ 713.6 million in the second quarter. At the same time, the commercial banks and credit organizations directed $ 531.6 million to the external debt service.
According to the source, within the reported period the principle creditors for Armenia were Russia (21.9% share against 12.2% in 1Q), Luxembourg – 9.1% against 11.3%, Germany- 6.3% against 7.0%. Moreover, the international organizations injected 31.8% of credits.

An average weighted interest rate for the attracted loans rose by 6.1% in 2Q from a quarter earlier.
Nearly 44.8% of the foreign credits have LIBOR, EURIBOR rate, with 4.7-year maturity period. At the same time, the share of short-term credits increased to 10.3% of the attracted credits. —0--


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