Armenia expects to receive all Russian loans agreed upon with Russia

21.01.2016 16:31
Armenia expects to receive all Russian loans agreed upon with Russia

YEREVAN, January 21. /ARKA/. Armenia expects to receive all the Russian loans on which it has agreements with Russia, Armenian Deputy Finance Minister Pavel Safaryan told journalists on Wednesday.

His Russian counterpart Sergey Storchak said Monday that Russia will have to cease extending new loans to foreign borrowers in 2016 because of financial difficulties.

Safarysna said that a $100-million Russian loan is implied in Armenia’s government budget for 2016.

“If economic things in Russia worsen, then maybe Russia will not provide loans to Armenia, and this carries certain risks, including those connected with oil price fluctuations,” he said.

He added however that Armenian and Russian governments still hopes for improvement of the situation.
Sergey Storchak said Russia has signed many loan agreements in 2015 assuming large commitments.

Armenia, along with its Eurasian Economic Union fellow members, is among foreign borrowers.

Two loan agreements were signed between Armenia and Russia in 2015 - a $300-million agreement was signed to prolong the Armenian Nuclear Power Plant’s operation life and a $200-million agreement was aimed at equipping the Armenian armed forces with modern armament.

At the same time, Storchak stressed that all the commitments already assumed by Moscow will be fulfilled. -0----

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