Tue, 29 April
13.1 C
Yerevan
USD: 389.46 RUB: 4.73 EUR: 441.92 GEL: 141.70 GBP: 519.38
spot_img

Reforms in energy sector to improve Armenia’s Moody’s sovereign rating

YEREVAN, July 14. /ARKA/. Reforms in Armenia’s energy sector will improve the country’s Moody’s sovereign rating, Ashot Manukyan, energy infrastructures and natural resources minister, said on Friday as he met with a representative of Moody’s.

Manukyan presented the energy, water reserves and natural resources programs being implemented in Armenia.

«Armenia has applied to the Extractive Industries Transparency Initiative to join it,» he said. «I am convinced that this will have a positive impact on Armenia’s sovereign rating.»

Manukyan also spoke about liberalization of electric energy and water resources markets.

The minister discussed with the Moody’s representative room for assignment of ratings to Armenia’s energy and mining companies.

In March 2016, Moody’s Investors Service International Ratings Agency downgraded Armenia’s long-term issuer and senior unsecured debt ratings to B1 from Ba3, but upgraded outlook from Negative to Stable. –0—-

spot_img

POPULAR

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.

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.

Armenian Banks Contribute AMD 28.3 Billion in Taxes During Q1 2025

In the first quarter of 2025, all 18 commercial banks in Armenia ranked among the top 1,000 taxpayers, collectively contributing AMD 28.3 billion in taxes and duties, as reported by the State Revenue Committee.

Armenia’s international reserves rose to $3.9 billion in March, providing 2.9 months of import coverage – WB

Armenia's international reserves increased to $3.9 billion in March 2025, offering 2.9 months of import coverage, according to the World Bank's Monthly Economic Update for April 2025.

Armenia Enters Top 10 Countries in the World with Lowest Inflation in 2024 – IMF

Armenia was among the top 10 countries in the world with the lowest annual inflation in 2024. Such data is provided in an IMF study on 156 countries.

LATEST NEWS

spot_imgspot_imgspot_img