YEREVAN, DECEMBER 11, NOYAN TAPAN. Armenia's foreign debt makes 1 bln 168 mln USD and will make 1.261 bln USD in late 2006, 1 bln 95 mln of which is the dabt of the government and 166 mln USD - that of the Central Bank of Armenia (CBA). Arshalyus Margarian, Head of the State Debt Management Department of the RA Ministry of Finance and Economy, said during the December 11 press conference that Armenia's foreign debt is forecast to amount to 1.369 bln USD in 2007. According to him, the peak of servicing the country's foreign debt was in 1998 whwn it made up one third of the budget. The greatest amounts of debt redemption are envisaged in 2024-2025. This year debt of 16.86 mln USD and interest of 9 mln USD was redeemed, and debt of 17.027 mln USD and interest of 10.01 mln USD will be paid in 2007. A. Margarian said that Armenia is considered to be a country with a low debt burden, with the avarage term of debt of 20-25 years, unlike the neighboring countries, where this index makes 2-3 years. In his words, at the moment the foreign debt amounts to 58 bln 160 mln 933 thousand drams (about 157 mln USD). Its servicing made 4 bln 529 mln drams and will amount to 5.2 bln drams at the end of 2006.

---