YEREVAN, August 14. /ARKA/. The Yerevan Municipality is considering possibilities for issuance of its own bonds. Arman Jangiryan, deputy head of Yerevan Municipality’s Accounting and Revenue Collection Department, said at a working meeting today.
He said he had discussed the issue with the National Assembly members. “We presented the municipality’s current problems, the existing restrictions that do not allow the issuance. We have prepared a legislative package according to a model with its limitations and risk mitigation mechanisms,” he said.
Jangiryan noted that during the discussions a set of suggestions were voiced. “The figure we had originally specified, which was around 10 billion AMD, we reduced to 5 billion AMD,” the official said. ($1 – 386 drams) -0-.
