Armenia, under the conditions of the state of emergency, does not see the need to postpone the process of servicing its external debt for any period of time.
According to Armenpress, this was stated by the Minister of Finance of the Republic of Armenia, Atom Janjughazyan, during the discussion of the draft law on making amendments and additions to the law on the 2020 state budget, in the National Assembly, in response to a question from Prosperous Armenia faction deputy Sergey Bagratyan.
Sergey Bagratyan noted that in a situation of insurmountable circumstances, force majeure in the applications of international law is a circumstance that frees the state from international legal responsibility. He asked whether Armenia would take advantage of the opportunity to postpone the process of servicing its external debt by at least one year.
Atom Janjughazyan noted that at first glance it seems very attractive, for example, to postpone servicing in the amount of 100 million dollars and the prospect of using those funds for domestic purposes. However, he suggested looking at the other side of the issue. “On the other hand, if there were only international financial organizations, then perhaps your intention would be feasible. But we do not see as a prospect for ourselves, you see, remaining under the auspices of international financial organizations; we see in the future that we ourselves will become donors. And a step directed toward that is also the fact that we are no longer unrecognizable on the international financial map,” said Janjughazyan, and as evidence, he cited the three issues of eurobonds in the international financial markets.
