YEREVAN. – Between 2019 and 2020, Armenia will have to repay hundreds of millions of dollars for national debt, but it is not clear where this money will be taken from. 

Capital city Yerevan former Mayor, opposition Armenian National Congress member, economist Vahagn Khachatryan, said the abovementioned at a press conference on Friday.

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The makeup of this debt is currently under consideration. In particular, the respective matter being discussed is whether the internal or the external debt should predominate.

Even though the interest rates of the internal debt are high, an agreement can be reached with its creditors—i.e. primarily banks—, in terms of freezing, or deferring the respective payments.

“[But] this is impossible with foreign creditors,” added Khachatryan. “The time has come, pay!”

According to the International Monetary Fund, in 2017, Armenia shall receive a $327-million loan, whereas repay $107 million. And in 2020, it shall get an $803 million-loan, but repay $660 million.