Armenia’s foreign debt not dangerous, thinks Sarkisian

Armenia’s President Serzh Sarkisian stated recently that Armenia’s foreign debt does not carry a serious threat and he cites precedents of similar or higher debt in many countries worldwide. Armenia’s President promised that the state will cover the majority of the loans. The President claims that EU, IMF and World Bank approved the anti crisis steps taken by the Armenian government however he admitted that there are certain problems which remain in the country, including high inflation rate as well as a slow increase of the country’s economy. However the country has managed to increase pensions and allowances and social programs are still being maintained.