Armenia to face problems with repayment and service of state debtJune 4, 2010 - 18:05 AMT PanARMENIAN.Net - Former chairman of the RA Central Bank Bagrat Asatryan said that Armenia’s foreign debt should raise concern of the authorities. According to him, soon Armenia will face problems both with repayment and service of its foreign debt. “If we look at 2009 indices, Armenia should work and export its production for 5-6 years and spend nothing to repay the debts. The state should not rely on remittances coming to the country,” he said. Referring to the foreign trade balance, Asatryan said that Armenians have become a nonworking and consuming nation that is proved by the country’s import and export indices. “In fact, we do not have export, as in case of 60% growth over four months of 2010 it amounted to around $300mln, while import totaled over $1.1bln,” Asatryan said. 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 | Putin congratulates Pashinyan’s birthday Russian President Vladimir Putin congratulated Armenian Prime Minister Nikol Pashinyan on his birthday on June 1. Opposition motorcade en route to Gyumri for large rally A motorcade of protesters headed by Archbishop Bagrat Galstanyan is heading to the city of Gyumri. Ruling MPs, Foreign Minister talk Armenia-Azerbaijan processes MOs from the ruling Civil Contract party met with the Foreign Minister Ararat Mirzoyan in the Armenian parliament. Russia: Armenia’s frozen membership weakens CSTO position in Caucasus A Russian envoy said any step that could alienate the CSTO member states from each other is “deeply wrong”. |