I have good news about Eurobonds. Armenia has re-financed its debt of $500,000,000, and as a result, the country will save $10,200,000 a year. This is what Prime Minister of Armenia Nikol Pashinyan wrote on his Facebook page, adding that the international economic community’s trust in Armenia is growing.

Pashinyan also talked about this live on Facebook. According to the Prime Minister, the debt of Eurobonds issued in 2013 ($500,000,000) should have been redeemed in 2020.

Pashinyan said the good news is that Armenia’s Eurobonds were issued at unprecedented low percentages. “In 2013, it was 6.25%, in 2019, Armenia issued another $500,000,000 Eurobond at 4.20%, meaning tremendous trust in Armenia’s economy. Moreover, Armenia has 10 years to pay off its debt, and as a result, we will pay off the debt by 2029 and save $10.2 million every year.”

According to Pashinyan, these indicators, expressed in the process of issuance of Eurobonds, show that Armenia is considered a reliable country since the risk assessment of the country has dropped more than twice.