Armenia’s external public debts grows to $4.47 billion

05.09.2016 14:36
Armenia’s external public debts grows to $4.47 billion

YEREVAN, September 5. /ARKA/. In late June 2016 Armenia’s external public debt stood at $4.470 billion, an increase of 3.6% when compared to the beginning of the year, according to the latest numbers, released by the National Statistical Service (NSS).

According to NSS, some 37.4% of the total external debt was owed to the World Bank, which at the end of June stood at $1.674.6 billion, an increase of 1.5% from the beginning of the year.

The government also owed $18.3 million to the European Bank for Reconstruction and Development (EBRD), $133.7 million to the European Investment Bank (EIB), $66.2 million to the International Fund for Agricultural Development (IFAD), $47.5 million to OPEC, $429.2 million to the Asian Development Bank (ADB), $426.3 million to the IMF, $71.9 million to the European Union and $100 million to the Eurasian Development Bank.

It also owed $277.9 million to Japan International Cooperation Agency (JICA), $195 million to Germany’s KFW, $22.4 million to the government of USA, $23.8 million to France, $11.2 million to Russia, $6.7 million to Abu Dhabi Development Fund and $19.9 million to Export-Import Bank of China.
At the same time, the amount of loans provided by foreign commercial banks to Armenia during the reporting period fell by 0.4% to about $23 million.

The government owed also $918.9 million (1.9% growth) to non-resident holders of government Eurobonds and $3.34 million to non-resident holders of government bonds.

According to the National Statistical Service, the country’s total public debt stood at $5.384.2 billion in late July having increased over the month by 0.7% or $ 38.9 million. Compared to the beginning of the year it grew by 6%, or $306.5 million.

According to the state budget, Armenia’s public debt in late 2016 will make 49.4% of the projected GDP, while the ratio of external debt to GDP is expected to be 42.8%. The public debt by the end of 2016 is expected to grow to $5.569 billion, of which 86.6% will be external debt. -0-

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