Mon, 29 September
19.1 C
Yerevan
USD: 382.75 RUB: 4.63 EUR: 448.54 GEL: 141.34 GBP: 513.96

IMF: Tightening of financial conditions may drive up financing costs for rolling over Armenia’s debt on foreign markets

YEREVAN, December 13. /ARKA/. There are risks that further tightening of financial conditions or higher risk aversion may lead to higher financing costs for rolling over Armenia’s debt on foreign markets, Yulia Ustyugova, IMF Resident Representative in Armenia, said in an interview with ARKA News Agency.

In its latest review, Moody’s said that Armenia would face Eurobonds financing risks.

In particular, the Eurobonds worth USD 500 million have to be repaid in September 2020.

Ustrugova said the authorities, therefore, will be taking into account the global financial market sentiment when assessing the pros and cons of all the options to rollover this debt.

“Importantly, the final decision will need to fit into the wider medium-term debt management strategy, capital market development strategy and macro-fiscal framework, as well as consider impact on monetary conditions and foreign exchange market,” she said.

Armenia has carries out two Eurobond emissions. The first issue took place on September 19, 2013 – Eurobonds worth $700 million were issued then with a six-percent yield and the maturity term of 7 years before March 30, 2020. Now bonds totaling $500 million are in circulation, since the finance ministry redeemed $200 million.

The second issue took place on March 26, 2015. Bonds worth $500 million were issued then. Their yield was 7.15% and maturity term was ten years until March 26, 2025. -0—

spot_img

POPULAR

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

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