Sun, 6 April
17.1 C
Yerevan
USD: 391.22 RUB: 4.63 EUR: 431.28 GEL: 142.08 GBP: 508.39
spot_img

Eurobond issue by Armenia not tied up with gas price subsidies: IMF

YEREVAN, June 4. /ARKA/. The IMF’s Armenia resident representative Guillermo Tolosa said the planned issue of Euro bonds by Armenia will have nothing to do with the gas price subsidies.
The Euro bond issue plans confirm Armenia wants to diversify its list of creditors, Tolosa told journalists Monday.

On May 16 Armenia’s government approved the foreign currency bonds’ concept that will allow the country attracting cheap funds when easy-term loans have reduced.

Tolosa who is completing his mission in Armenia says the prime cost should be fully reflected in the gas price for end consumers.

The government, no doubt, should interfere, but only to support the poor families, he said.
Tolosa also said that it is not yet clear how the gas costs will be subsidized.

As per the agreement between the IMF and Armenia’s government, the tax and budget limits should not change in mid-term, the resident representative said adding this should not create an extra burden.

According to the official information, Armenia’s national debt was $4,205 billioni as of the end of March 2013.

On May 14, ArmRosgasprom cjsc and TransGas limited filed an application with Armenia’s public services regulatory commission for review of the Russian gas price. The new tariffs will take effect on July 7-10. Consumers with monthly consumption of up to 10,000 cubic meters will pay 156,000 drams per 1,000m3 (18.2% increase); the price for consumers with consumption exceeding 10,000 m3 per month will be $276.98 per 1,000m3 (13.9% increase). ($1=417.17drams).–0–

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Arka news agency’s ranking of most profitable Armenian banks in 2019

In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019

Top ten Armenian banks by size of lending in 2019

In 2019, the overall loan portfolio of Armenia's banking sector grew by 16.4% to 3.572.2 trillion drams

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

LATEST NEWS

spot_imgspot_imgspot_img