Even the Richest Countries Have the Largest External Debts: Yeghoyan on Armenia's Credit Policy

In the National Assembly, Arman Yeghoyan, a member of the "Civil Contract" faction, stated that Armenia's ability to secure loans from international financial institutions reflects the confidence in the country. He noted that even the richest countries in the world also have the largest external debts.

"Many countries would like to obtain loans of 236 million euros from the European Development and European Investment Banks, as Armenia has succeeded in doing," said Yeghoyan. According to the deputy, such credit agreements are only possible when the lender is confident that the funds will be repaid.

Yeghoyan also emphasized that "the largest loans are held by the richest individuals," adding that "the poor simply do not have the opportunity to obtain loans." He stated that Armenia's credit activity should be viewed as an expression of economic confidence.