Mon, 8 September
20.1 C
Yerevan
USD: 384.03 RUB: 4.80 EUR: 443.29 GEL: 142.29 GBP: 510.11

Armenia assessed to be at low risk of debt distress

YEREVAN, January 11. /ARKA/. According to the recent Bank-Fund Debt Sustainability Assessment (DSA), Armenia is assessed to be at a low risk of debt distress, with all debt indicators (total debt to GDP, debt service to export, debt service to budget revenues) below the country-specific thresholds under the baseline scenario, Jean-Michel Happi, the World Bank’s Country Manager for Armenia, said in an interview with ARKA News Agency.

“Armenia’s public sector debt profile is not risky and is projected to remain sustainable,” he said adding that this has been largely supported by the strict measures introduced by the government after the recent crisis – monitoring of the external debt and downsizing the budget deficit through consolidation of public spending.

“In practice the government declared moratorium on borrowing for technical assistance and on non-concessional terms and implemented more disciplined fiscal policy,” he said stressing that this policy will need to be pursued over the medium-term future as well given current uncertainties in the Eurozone area and possible external shocks to Armenia, the necessity to create additional macroeconomic buffers, and limited availability of concessional financing.
According to the Armenian finance ministry, the country’s state debt amounted to $4 billion 374.9 million in late 2012.

Its foreign debt amounted to $3 billion 159 million (31.1% of GDP) against $2 billion 950 million in 2011. -0—

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Cryptocurrency in Armenia: Stringent Regulations and Elevated Expectations

The future of cryptocurrencies in Armenia was a topic of discussion among participants at the Armenian Cryptocurrency Assets Forum, which recently took place in Yerevan.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

ArCa payment system reinstated

The Armenian Card (ArCa) payment system has been completely reinstated, according to a report from the company's press service.

LATEST NEWS

spot_imgspot_imgspot_img