Tue, 29 April
20.1 C
Yerevan
USD: 389.45 RUB: 4.78 EUR: 443.12 GEL: 141.62 GBP: 521.16
spot_img

External debt of Armenian commercial banks and credit organizations drops to $1.154.4 trillion in first quarter

YEREVAN, June 10. / ARKA /. In the first quarter of 2014 the external debt of Armenian commercial banks and credit organizations dropped to $1.154.4 billion from $1.209.6 billion in the fourth quarter of last year, the Central Bank said in its monthly bulletin.

In the first three months of this year the commercial banks and credit organizations attracted $425.5 million in foreign borrowings and also repaid $475.6 million worth earlier attracted loans and interests.

Of foreign borrowings attracted in the first quarter, 5.6% were long-term loans. Interestingly, 29.3% of long-term loans came from Latvia, 11.5% from Luxembourg and 44.4% from various international lending organizations.

At the end of the first quarter this year  the main creditor countries of Armenian commercial banks and credit organizations were Russia (16.5%), Luxembourg – 12.5% and  the Netherlands – 7.6% and about 37.5% of the loans were provided by international organizations.

The weighted average interest rate of attracted loans was 5.9%. About 48.4% of foreign loans were with floating interest rates (LIBOR, EURIBOR, etc.). The average maturity period was  4.3 years.
During the reporting period, the share of short-term loans increased to 10.8% of all borrowed loans ($ 1 – 412.86 drams). -0-

spot_img

POPULAR

Euro exchange rate down 1 point, while US dollar and ruble up

The average market exchange rate of the U.S. dollar to the Armenian dram on April 25, 2025, rose by 0.77 points compared to April 23 and amounted to AMD 390.33.

Armenia may access $25 mln from the IMF under the SBA agreement in June

An International Monetary Fund (IMF) team led by Iva Petrova visited Yerevan from March 31 to April 10, 2025, to conduct discussions for the fifth review under the Stand-By Arrangement (SBA) with Armenia.

In Armenia, remittances have begun to recover after a 35% decline in 2024

On the demand side, average real wages in Armenia have increased in 2025, and net money transfers have shown an upward trend, contributing to consumption growth, according to the World Bank's Armenia Monthly Economic Update – April 2025.

Instruments for supporting SMEs in Armenia were discussed with bankers at the Ministry of Economy

Financial instruments for supporting small and medium-sized businesses (SMEs) were discussed by Deputy Minister of Economy of Armenia Lilia Sirakanyan and bank representatives.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

LATEST NEWS

spot_imgspot_imgspot_img