YEREVAN, SEPTEMBER 5, ARMENPRESS: Though the Armenian government allocated 761.8 million Drams (as much as was earmarked by the 2002 budget) to foreign affairs ministry to pay for Armenia’s membership in different international organizations, Armenia’s outstanding debt to these structures still stands at $11 million.
Deputy foreign affairs minister Ruben Shugarian told parliament members today that the ministry tries to pay, though minimum amounts, in due time to prevent Armenia’s depriving of its right to vote.
By the end of 2002 Armenia did not have any outstanding debts and payments on interest rates, regarding its foreign debt. Deputy economy and finance minister Atom Janjukhazian portrayed it as “an achievement in the management of the country’s foreign debt in 2002.”
The deputy minister said that as of the end of 2002 Armenia’s aggregate foreign debt constituted $1billion and 25 million, tantamount to 43 percent of its overall GDP.
Government’s direct obligations stood at $811 million and $194.8 million were the debts of the Central Bank. The total volume of foreign debt grew over the previous year $120 million or 13.2 percent.
Last year Armenia spent $68.1 million to service its foreign debt, of which $20.1 million were payments on interest rates and $48 million the main money.
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