Armenian Government Adopted Firm Program of Debt Consolidation, Jean-Michel Happi

YEREVAN, FEBRUARY 17, ARMENPRESS: After the 2009 financial-economic crisis Armenia's foreign debt essentially grew and today it is not in stable condition, Jean-Michel Happi, the World Bank Country Manager for Armenia told news conference today. In spite of it, the Armenian government has adopted a very firm program of debt consolidation which in long-term sector will allow keeping this sector of the foreign debt stable.

"It is agreed with the solution of two important issues – speeding-up the economic growth and export. These are the priorities which will allow to avoid a situation when the state foreign debt have negative impact on the economic growth of Armenia and on the vulnerable groups of population," he said.