Armenia to attract cheap funds through eurobonds if preferential lending not available

YEREVAN, May 16./ARKA/. By issuing foreign currency-denominated bonds Armenia will have an opportunity to attract some cheap funds amid the slash in preferential lending, Finance Minister David Sargsyan implies.

“Today, the international financial organizations stopped considering Armenia as a country with low income rather assessing it as a middle-income republic,” he said at the government session on Thursday.

It means, very soon the preferential lending will not be available to Armenia anymore. The Armenian government on Thursday approved the concept for issuing foreign currency-denominated bonds.

“Today we are taking a political decision, and for the first time we will start issuing foreign currency –denominated bonds. This will open a new page in the economic policy of Armenia not only in terms of public funds management, but will also provide the private sector with an opportunity to attract cheaper funds from international financial markets,” prime minister Tigran Sargsyan said.

According to official data, Armenia’s state debt stood as of March 31 at $4.205 billion, of which $3.597 billion were external debt.—0-

spot_img

POPULAR

MONEYVAL recommended Armenia strengthen its fight against money laundering and confiscation of criminal assets

The Council of Europe's Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) noted Armenia's progress in developing its system for combating financial crime, but recommended strengthening the effectiveness of money laundering investigations, asset confiscation, and oversight of certain economic sectors.

Jasmine Home: The Story of Young Sisters’ Business

Ten years ago, sisters Anna and Ani founded Jasmine Home, offering dozens of high-quality textile products—blankets, bedding sets, pillows, and many other items.

Converse Bank Completes the Placement of EBRD Bonds

Converse Bank acted as the EBRD's key partner throughout the transaction, arranging the bond issuance and the guaranteed placement of the bonds

Members of the Armenian health insurance system will be able to receive bonuses for a healthy lifestyle

At a meeting on Thursday, the Armenian government approved the procedure for accruing bonus points within the universal health insurance system.

Inflation of 5.1% recorded in Armenia in June

In the Armenian consumer market, 12-month inflation in June of this year amounted to 5.1%, according to a report from the Statistical Committee of Armenia.

LATEST NEWS

spot_imgspot_imgspot_img