13/09/2013 12:10
Russia does not forgive Armenia’s debt
Russia has no intention of forgiving $500 million loan it gave to Armenia in 2009, according to ‘Haykakan Zhamanak’.
The daily says the Armenian government hoped that after the announcement of Armenia’s decision to join the Customs Union, the Russian side would forgive that debt as ‘a manifestation of good will’.
Armenia received the $500 million loan following long and tough negotiations with Russia. The loan was provided on tough terms – at an annual interest rate of 4%. It is considered one of Armenia’s heaviest debt burdens.