YEREVAN, September 12. / ARKA /. The external debt of Armenian commercial banks and credit organizations stood at $1.135.6 billion in late June, 1.6% down from the first quarter, according to Central Bank’s Bulletin.
According to the Bulletin, commercial banks and credit organizations attracted $577.4 million in foreign borrowings in the second quarter and spent $588.6 million to pay off earlier attracted loans and interests.
In the second quarter, 11.4% of loans were long-term and 45.4% of long-term loans came from Luxembourg, 9.6% from the United States, 6.2% from Germany, 6% from Russia, and 24.5% from international lending organizations.
At the end of the second quarter the main creditor countries of Armenian commercial banks and credit organizations were Russia – 17.7%, Luxembourg – 14%, the Netherlands – 7.6%. In addition, about 36.5% of the loans were provided by international organizations.
The weighted average interest rate of credit funds, attracted by the Armenian financial institutions at the end of the second quarter was 6.1%.
About 48.2% of external loans were loans with variable interest rates (LIBOR, EURIBOR, etc..) with average maturity of 4.3 years.
During the reporting period, the share of short-term loans increased to 11.3% of the attracted credits ($ 1 – 409.35 drams). -0-
