Armenia to write off certain debts of displaced Karabakh residents

The Armenian government has adopted a decision to write off certain loan obligations of people displaced from Karabakh, covering debts accumulated up to 2023 that were transferred to the state and are currently under enforcement proceedings.

According to a government press release, the decision also applies to enforcement proceedings secured by movable property (except gold items), where the principal debt per borrower did not exceed 5,000,000 drams at the time it was transferred to the state.

Citizens will be fully exempt from paying enforcement costs, and all restrictions and seizures imposed on their property and bank accounts will be lifted.