Tigran Jrbashyan: Armenia's creditworthiness quite high

PanARMENIAN.Net -  

The funds Armenia borrowed from external sources to overcome the consequences of the crisis are insufficient, Tigran Jrbashyan, director in development of Ameriabank told a PanARMENIAN.Net reporter.



"Attracted external resources are not sufficient, we are able to attract more," he said. The money must be attracted for development projects.  

 

According to Tigran Jrbashyan, Armenia's state debt by the end of 2009 will reach 42-43 per cent of GDP, it will not surpass the allowable level of 50-60 per cent to GDP. However, the terms of the debt are unique in Armenia".



"All our debts are multilateral, with a great maturity period and low interest rates," he said.



The creditworthiness of Armenia is quite high, necessary funds to finance reforms aimed at economic development of the country can be attracted, Tigran Jrbashyan said.