ARMENIA´S FOREIGN DEBT ON RISE

YEREVAN, OCTOBER 4, ARMENPRESS: Armenia’s foreign debt is expected to stand at $1.227 billion by the end of the year, deputy economy and finance minister Pavel Safarian said today.
He said Armenia’s next year’s budget includes $107.9 million in credits, of which $95.202 million under government liabilities. The budget also foresees $50.2 million in re-payment of the debt. By the end of next year the overall foreign debt will increase further making $1.285 billion. In 2006 Armenia expects loans from International Development Agency, International Fund for Agricultural Development (IFAD), German KfW and the International Japanese Cooperation Bank.