Armenia’s external debt swells 11.2% last year to $3.299 billion
ARKA, 01.03.2011Armenia’s external debt swelled by 11.2% last year or $332.3 million to a total of $3.299 billion, an equivalent of AMD 1.2 billion, according to the latest figures, released by the National Statistical Service.
Some 82.9% of that amount or $2.736.4 billion was the government’s debt that rose last year by 11% or $270.5 million. The Central Bank of Armenia (CBA) accounted for 17.1% of the overall external debt or $562.6 million, that grew last year by 12.4% or $61.9 million.
About 68.3% of the debt or $2.253.7 billion was owed to international lending organizations, rising by 11.9%. Armenia’s debt to World Bank rose to $1.265.5 billion, 38.4% of the overall external debt. It grew last year by 4.3%. Armenia’s debt to the International Monetary Fund (IMF) surged last year by 26.3% to $740.8 million or 22.5% of the total debt.
The debt to the Asian Development Bank rose to $146.7 million from $126.5 million in 2009. The debt to the International Fund for Agricultural Development (IFAD) grew to $62 million from $60.4 million in 2009 and the debt to OPEC Fund rose to $28.7 million from $25 million in 2009.
Armenia also owes $500 million to Russia and its debt to Japan increased by 38.4% from $270.6 million in 2009 to $374.4 million in 2010. Armenia also owes $132.7 million to Germany, a 7% drop from 2009. The debt to the USA also dropped by 4.6% to $33.1 million and the debt to France fell to $4.83 million from $4.33 in 2009. -0-
