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Finance Minister: Armenia’s national debt totals over $7.4 billion

October 4, 2018 By administrator

YEREVAN.- Armenia’s foreign debt amounts to 7 billion and 360 million US dollars now. Accordingly, the government debt is 6 billion and 844 million US dollars, the Minister of Finance of Armenia, Atom Janjughazyan, stated the above-said at a press conference on Thursday. He noted this as he presented the 2019 State Budget draft.

According to the minister, in 2019 the debt is expected to make up 50.4% of GDP.

“There is no possibility of reducing the debt as long as we have a budget deficit,” explained Janjughazyan. The Minister noted that 84-86% of the debt is in foreign currency.

Filed Under: Articles Tagged With: finance-minister, of armenia

Iraqi Parliament Dismisses Finance Minister Hoshyar Zebari charges of corruption

September 21, 2016 By administrator

hoshyar-zebariIraqi lawmakers have voted to dismiss Finance Minister Hoshyar Zebari.

Parliament voted by majority on September 21 to dismiss Zebari after questioning him last month on charges of corruption and mismanagement — which he denies.

The vote came after parliament dismissed the country’s defense minister over the allegations last month.

Zebari, a Kurd who previously served for years as Iraq’s foreign minister, became finance minister in 2014.

He has recently led negotiations with the International Monetary Fund for a loan deal and with international lenders for a Eurobond.

Iraq’s economy has been hit by a drop in global oil prices and the costs associated with the campaign against the Islamic State group.

Based on reporting by Reuters and AFP

Filed Under: Articles Tagged With: dismiss, finance-minister, Hoshyar Zebari., Iraqi, lawmakers

Greek cartoon depicts German finance minister as Nazi

February 14, 2015 By administrator

Greek cartoon depicts German finance minister as Nazi

Greek cartoon depicts German finance minister as Nazi

(Reuters) A spokesman for Germany’s finance minister Friday condemned as “vile” a Greek newspaper caricature that showed minister Wolfgang Schaeuble in a Nazi-era army uniform and alluded to the Holocaust.

The artist of the cartoon in Sunday’s Avgi newspaper, a pro-Syriza party daily, should be “ashamed,” said Schaeuble’s spokesman, asked to comment at a regular government briefing.

“There is the principle of freedom of expression,” spokesman Martin Jaeger told reporters.

“I will also make use of this freedom of expression, and on a very personal basis I say: this caricature is vile and the artist of this caricature should be ashamed.”

The cartoon depicts Germany’s finance minister in a Wehrmacht uniform saying “we insist on the soap from your fat … we are prepared to discuss the fertilizer from your ashes.”
The headline reads, “The negotiation has begun,” referring to the talks the new Syriza-led government in Athens is holding with its eurozone partners on debt relief and economic reforms.

The Greek newspaper, which has a daily circulation of only about 1,800, published another cartoon of Schaeuble in its Friday edition, also wearing a German army uniform.

Germany has been the strongest opponent of Greek Prime Minister Alexis Tsipras’s plans for an overhaul of its huge loans program. Many in Athens blame Berlin for imposing austerity since the country’s first bailout in 2010.

Greece began tough negotiations with its creditors on Friday as hopes grew of a deal to replace its detested bailout after Tsipras pushed his case at a European summit.

Officials from Athens held technical discussions with the EU, International Monetary Fund and European Central Bank in Brussels ahead of a last-ditch meeting of eurozone finance ministers on Monday.

European and Asian stock markets rose Friday on the more positive mood after hard-left leader Tsipras met German Chancellor Angela Merkel, the leader of Europe’s biggest economy, and other counterparts in Brussels.

Tsipras vowed after his election in January to replace the current €240 billion ($270 billion) EU-IMF bailout with its heavy austerity measures, and to ditch the so-called troika of its creditors.

But with the Greek rescue program due to expire at the end of the month, time is running out to prevent a possible Greek default and a potentially catastrophic exit from the 19-country eurozone.

A senior EU official closely involved in Friday’s technical-level talks said that a new bailout programme was an option, despite the insistence of Greece’s eurozone counterparts until now that Athens stick to the current rescue package.

“It is not crucial to extend. One could also agree that one will commence discussions on a new programme,” the EU official said on condition of anonymity. “I would not exclude it.”

Filed Under: Articles Tagged With: cartoon, finance-minister, Germany, Greek, Nazi

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