YEREVAN. - No default should be expected in Armenia, a member of the Ameriabank Board of Directors Tigran Jrbashyan told journalists on Friday.

Earlier Armenia`s ex-premier Hrant Bagratyan mentioned the likelihood of default in Armenia. According to him, Armenia will default on foreign loans in 2013 or 2014.

Jrbashyan believes that default is possible in a number of European countries, particularly in Greece, where the interest rates in government bonds were raised up to 14%. But interest rates on government bonds are raised amid unchanged monetary policies.

The interest rates on government bonds have recently been raised up to 14% in Armenia as well. However, it is a normal reaction to a stricter monetary policy.

“Government bonds in Armenia and Greece have the same interest rates, but different content,” Jrbashyan said.