KAPAN, JANUARY 25, ARMENPRESS. The coupon rate of the newly issued Eurobonds is only 3,95% instead of the 6% of repo bond, which means that the bond servicing expenses have significantly dropped for Armenia, PM Nikol Pashinyan said at the 100 Facts About New Armenia, Part III news conference.

“The third Eurobonds issuance took place with a 500 million dollar volume and 10 year maturity period”, he said, noting the low coupon rate. “As a result of only this action Armenia will annually save nearly 10 million dollars during servicing the foreign debt”.

He said that as of yearend 2019 Armenia’s international reserves totaled 2 billion 849 million dollars, which is a 26% or 590 million dollar increase compared to 2018, and a 23% increase compared to 2017. During 2019 the Armenian cenbank has bought 565 million dollars and did not sell. Pashinyan said the indicator is “unprecedented” in Armenia’s history, and noted that this secures the reliability and stability of Armenia’s financial system.

Edited and translated by Stepan Kocharyan