Tue, 1 July
14.1 C
Yerevan
USD: 384.47 RUB: 4.90 EUR: 450.83 GEL: 141.25 GBP: 526.80

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

US dollar exchange rate unchanged, euro and ruble rise

The average market exchange rate of the U.S. dollar to the Armenian dram on March 7, 2025, remained at 394.58 drams, unchanged compared to March 6.

Armenia to receive EUR 26 million loan from KfW bank for renewable energy development

Armenia will receive a loan and a grant from the German KfW bank for the implementation of the "Renewable Energy and Energy Efficiency Development" program.

Ratio of loans to deposits in commercial banks of Armenia has improved – WB review

In April 2025, deposits and loans of commercial banks of Armenia increased by 1.5% y/y and 0.8% y/y, respectively, slightly improving the ratio of loans to deposits compared to the figures for the previous year.

Euro falls by 0.62 points to 450.23 drams

The average market exchange rate of the US dollar against the Armenian dram as of June 27, 2025, decreased by 0.59 points compared to June 26 and amounted to 384.32 drams.

Armenia’s budget remained in surplus through April, despite a projected deficit

Armenia’s budget remained in surplus through April, despite a projected deficit, according to World Bank's Armenia Monthly Economic Update – June 2025.

LATEST NEWS

spot_imgspot_imgspot_img