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Armenia's external debt expected to exceed $ 5 billion in a few years (video)
Armenia plans to issue Eurobonds this year to help offset the effects of the economic crisis in its key trade partner, Russia, Armenia’s Finance Ministry said in February. Economists in Armenia say that the country’s decision to issue Eurobonds will increase the country’s foreign debt which is estimated to exceed $ 5 billion in a few years. Armenia's external debt now is over $4 billion. In its previous sitting, the Armenian government approved plans to release more Eurobonds, which means Armenia will take a new loan for several years and is obliged to pay interest year every year u until the country repays the principal loan in seven years.
