Thursday, September 1 2011 15:31
By 1 July 2011 foreign debt of Armenia's financial sector amounted to $1.183 bln
ArmInfo. By July 1 2011 the foreign debt of Armenia's financial sector amounted to $1.183 bln. Over the first half of 2011 the commercial banks and credit companies of Armenia received $747.6 mln (including $51.7 mln direct foreign investments) as foreign investments and loans.
According to the data of Central Bank of Armenia, provided to ArmInfo by the National Statistical Service, the biggest volume of investments - $264.8 mln (including $19.6 mln DFI) was traditionally received from Russia (35.4% of the total volume of investments). The international organizations rank next by the volume of investments - $83.5 mln (including $206.8 thsd DFI). Their share in the total volume of investments made up 11.2%. Latvia is the third with $42.9 mln (including $11.5 mln DFI) and its share makes up 5.7% of total. Luxembourg holds the fourth place with $24.5 mln (3.3%). The top five is accomplished by Germany with $21.8 mln or 3% of total.
The commercial banks and credit companies of Armenia received $16.3 mln investments from Great Britain, $15 mln from Kazakhstan, $14.9 mln from France (the whole amount being DFI), $13.7 mln from Lebanon ($5.3 mln DFI). The top ten is accomplished by the United States with $4.5 mln. Cayman Islands with $4 mln, Sweden with $3.053 mln, Iran with $348.9 thsd rank next. The lowest volume of investments ($2 thsd) was received from Belgium.
To note, over 15 international programs are being implemented through the banking system of Armenia. The authorized funds of the commercial banks have Russian, Ukrainian, Kazakh, American, French, German, British, Austrian, Swiss, Argentine, Lebanese, Iranian capitals, as well as the funds of EBRD, IFC, KfW and OPEC.
The authorized funds of the credit companies have Latvian, American, British, French and Russian capitals. As of 1 September 2011, there are 21 commercial banks and 31 credit companies in Armenia (including universal credit organizations, 3 leasing companies and 1 credit union).
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