Foreign debt size of Armenia is not very high, declared head of IMF mission to Armenia Mark Louis at the press conference in Yerevan.

He offered Armenian authorities to obtain soft loans and select programs that will yield profit and provide efficient spending of credit funds. “If this is not ensured, Armenia’s state debt will increase,” he stated.

Commenting on the fact that since 2013 servicing of Armenia’s public debt will cost 20% of budget ($480m), Louis said: "Indeed, state of Armenia’s foreign debt is stable. Speaking of banking system in the country, banker outlined that is viable, strong and was managed accordingly in a complex 2009 year.

S.T.