Armenia Faces 40 Years Under Heavy Foreign Debt, Says Minister

YEREVAN (Combined Sources)–Amidst predictions that Armenia’s economy may shrink by as much as 20 percent, Yerevan has received an $80 million pledge of assistance from the Asian Development Bank (ADB).

With the loan, Armenia will have received $790 million in economic support from international donors since the onset of the global economic crisis last year, the government announced on July 7.