Monday, December 3 2018 16:13

ArmInfo.The external debt of Armenia ($ 5.4 billion by October 1, 2018) is dominated by debt under multi-loan programs - 65.9% or $ 3.6 billion, followed by debt under bilateral credit programs - 17.8% or $ 964.6 million and investments  by non-residents in Armenian Eurobonds - 15, 6% or $ 844.6 million.  The data of the National Statistical Service of the RA testify this.

In the structure of Armenia's external debt, 33.1% or $ 1.8 billion  is concentrated on loans from the World Bank (WB: IDA - $ 1.1 billion  and IBRD - $ 703.4 million), 12.1% or $ 657 million from the Asian  Development Bank (ADB), 6, 6% or $ 358.4 million from the  International Monetary Fund (IMF), 5.7% or $ 306 million from the  Eurasian Development Bank (EDB), 4.3% or $ 232 million from the  European Investment Bank (EIB). For loans from the European Bank for  Reconstruction and Development (EBRD), the debt is $ 22.8 million or  0.4% of the external debt of Armenia, and from the International Fund  for Agricultural Development (IFAD) - $ 65.4 million or 1.2%. Among  them, the annual growth by October 1, 2018 was ensured by EDB - by  49.2%, ADB - by 19.3% and EIB - by 4.8%, and the rest recorded a  decline: IMF - by 15.8%, EBRD - by 2.6%, IFAD - by 1.8%, WB - by  0.1%.

According to bilateral credit programs, the largest amounts of debt  are on KfW (Germany) and JICA (Japan) - respectively $ 295.3 million  and $ 226.9 million or 5.5% and 4.2% of Armenia's external debt.  The  share of loans from France in Armenia's external debt amounts to 2.4%  or $ 128.4 million, and from Russia - 4.9% or $ 267.5 million. Among  them, the highest annual growth was recorded for loans from Russia -  2.8 times, followed by KfW - by 26.4% and France - by 14.7%, with a  decline in loans from JICA by 4.9%.

As for non-residents' investments in dram government bonds and  Armenian Eurobonds, an annual decline was recorded - by 56.4% and  3.3%, respectively.  In annual terms (October 1, 2018 by October 1,  2017), Armenia's foreign debt increased by 5.9%, in the structure of  which the debt on multilateral credit programs grew by 5.9%, and on  bilateral debt - by 32.1%.

In the third quarter of 2018, loans were raised in the amount of $  48.7 million, repaid by $ 40.5 million, interest payments were made  in the amount of $ 21.6 million. In annual terms (to Q3 2017), the  volume of attracted loans decreased by 54.1%, repayments increased by  51.7 %, and interest payments - increased by 24.9%. Over the first 9  months of 2018, loans of $ 132.1 million were attracted, repaid - at  $ 139.9 million, interest payments were made at $ 67.3 million.  Compared to 9 months of 2017, the volume of attracted loans decreased  by 38.7%, with growth of repayments by 53.1% and interest payments by  34.1%. Only in the third quarter of 2018, the volume of attracted  loans grew by 20%, with a decline in redemptions and interest  payments - by 33.8% and 22.6%, respectively.

To note, according to the update in October of this year. The World  Bank's forecast of the share of state debt in Armenia's GDP for 2018  is expected to be at the level of 56.6%, with a decrease to 55.4% in  2019.