Armenia is preparing to resist the global economic war, Armenian Prime Minister Hovik Abrahamyan said in Government on Friday.
"I will make no mistake if I say that the world faces an economic war. Our country should be ready for any scenarios", said Abrahamyan. He pointed out that the Government has set up a commission to hold various events, prepare laws and governmental decisions to enhance the economic stability of Armenia.
At the session of the Government, Vache Gabrielyan, Vice Premier, Minister for International Economic Integration and Reforms, said that amid the foreign shocks it is important for the Armenian economy to ensure inflow of foreign exchange. For that purpose the Government has worked out a bill to boost export. The bill will be submitted for approval of the Parliament. In this light, the Government is also preparing changes in the activities of the foreign exchange offices, Gabrielyan said. He thinks that the republic has a good potential to attract foreign investments. For that purpose, Eurobonds worth 700 mln USD were issued with the yield of 6.2% p.a. Gabrielyan said that today the Eurobonds are circulating on the secondary market at the same rate and it would be good for the republic to also attract loans at the same interest rate.
To recall, in September 2013 Armenia issued Eurobonds for 7 years in the amount of 700 mln USD, with the yield of 6.25%. The key underwriters were Deutsche Bank AG, London Branch, HSBC Bank plc and J.P.Morgan Securities plc.