Armenia's international reserves grew by 8.9% in 2022December 9, 2022 - 17:00 AMT PanARMENIAN.Net - As of late November, Armenia's international reserves amounted to $3.5 billion, according to a report from the country's Central Bank. Over the year 2022, intermediate reserves increased by $288 million, or 8.9%, Hetq reports. Throughout the year, the highest level of international reserves was recorded in September, after which it began to decline. The change in international reserves is mainly affected by the increase in public debt, debt service and the sale of foreign currency in the domestic market. Armenia's international reserves are almost entirely held in foreign currency. There is no gold in the reserves. The country's public debt is about $10 billion. As of the end of June, most of the state debt of Armenia (65%) is external debt. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |