YEREVAN, October 5. /ARKA/. Armenia’s Ministry of Finance is looking for an alternative to issuing Eurobonds, Finance Minister Atom Janjughazyan told reporters on Thursday. He said Armenia made tow issues of Eurobonds with maturity periods expiring in 2020 and in 2025 respectively.
“We will make another issue of Eurobonds by 2020 only if we are unable to find other domestic sources, including tax revenues, to pay off this debt,” said Janjughazyan.
He stressed that the government does not intend to make new borrowing or sell domestic assets to pay off this debt.
He said also that by the end of 2019 Armenia’s national debt is expected to make $7.36 billion (54.2% of GDP), up from $6.9 million projected for the end of this year (54.9% of GDP).
Armenia first issued $700 million worth dollar-denominated bonds in September 2013 at the yield of 6.25 percent and a maturity of 7 years. The bulk of $700 million was used to repay a $500 million Russian loan ten years ahead of schedule. The second issue was carried out in March 2015 in the amount of $500 million with a yield of 7.25% and a maturity period of 10 years. . -0-
