Friday, December 7 2012 16:46
In 2013 Armenian government should pay off about $230 for foreign credits with interest rates, and more than $198 mln in 2014
Arminfo. In 2012 the Armenian government should pay off about $128 mln for foreign credits with interest rates, in 2013 - about $230 mln and more than $198 mln in 2014.
The main debt burden is to the IMF for the reserve credit (Stand-by Arrangement) - about $45 mln in 2012, more than $98 « - in 2013, $61 mln - in 2014, as well as for paying off the Russian stabilizing credit. As for the Russian stabilizing credit $500 mln, delivered in June 2009 with a paying off term 15 years and grace period for paying off - 4 years, the government will start paying off the main sum in 2013 - about $44 mln and about the same sum in 2014. As for paying off the interest rates, the government has started it since the 2Q 2012 - $12.2 mln and similar sum in the 4Q. In 2013 more than $24 mln interest rates will be repaid, and more than $22 mln in 2014.
As for Japan, it delivered a credit to Armenia for fulfillment of the programme on electric power lines. The main sum of this credit is being paid off with equal shares for 2012-2014 - more than $3 mln plus interest rates. The government will also start paying off other credits delivered by EBRD, KfW, IBRD, IDA, IFAD, ADB, etc.
According to Armenian Finance Ministry, over Jan-Sept 2012 Armenia's foreign debt grew by 4.8% (up 1.2% over Q3 2012, up 6.4% versus Jan-Sept 2011) to $3740.783 mln (1519.7 bln AMD) or 86.7% of the total national debt (1752.966 bln AMD), the National Statistical Service of Armenia told ArmInfo. In the structure of the foreign debt, the share of the Government made up 84.1% or $3.2 bln, the share of the Central bank of Armenia (CBA) - $594.7 mln or 15.9%. The debt to the bilateral creditors made up 29.7%, or $1109.959 mln (1.6% growth over Jan-Sept 2012). In particular, the debt to the USA totaled $29.2 mln, or 0.8% of the total foreign debt, Japan - $394 mln, or 10.5%, France - $3.9 mln, or 0.1%, KBC Bank - $2.2 mln, or 0.1%, Germany - $173.7 mln, or 4.6%, Abu Dhabi Fund for Development - $4.2 mln, or 0.1%, Austria - $2.6 mln, or 0.1%, Russia - $500 mln, or 13.4%.
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