Armenia raises its foreign debt by $0.5 billion

Armenia has issued $500 million of Eurobonds, raising its foreign debt by $0.5 billion.

“According to the agency’s information, the yield of these Eurobonds - that is, the interest rate of this new debt - is 7.5% per year, and the repayment period is 10 years. In other words, Armenia must return 875 million dollars over the course of 10 years. This is the priciest foreign debt the Armenian government has ever had. It is noteworthy that, as of midnight yesterday [March 19 - VK], neither the Ministry of Finance nor the Central Bank had formally announced about the placing of the Eurobonds,” News.am cited Haykakan Zhamanak's article.