Investor Presentaiton
22
21
GOVERNMENT DEBT MANAGEMENT (CONT'D)
NET FINANCING OF THE STATE BUDGET DEFICIT BY BORROWINGS
CONSOLIDATED REDEMPTION AND DEBT SERVICE PROFILE (SEPT. 30, 2021)
42%
0.85
16%
36%
44%
85%
0.97
32%
1,400
1,200
0.73
1,000
0.58
800
0.49
600
400
0.28
200
58%
2016
84%
2017
64%
56%
2018
2019
15%
2020
68%
Sep-21
External Net Borrowings (% of Total Borrowings)
Total Net Borrowings (US$ bln)
Domestic Net Borrowings (% of Total Borrowings)
the amounts of net borrowings have been converted into US$ based on the USD/AMD average exchange rate for the period
GOVERNMENT DEBT SERVICING COSTS
2021
2023
2025
2027
2029
2031 2033
2035
Amortization payments, USD mln
2037
2039
2041
2043
.........
2005 2007 2009 2051 2053
■Interest payments, USD mln
REDEMPTION PROFILE OF GOVERNMENT DEBT (SEPT. 30, 2021)
1,200
1,000
4.9%
4.9%
5.0%
4.8%
4.3%
4.4%
800
2.7%
2.2%
2.3%
2.4%
1.9%
2016
2017
2018
Interest Payments on Government Debt (% of GDP)
2019
2020
Sep-21
Weighted Average Interest Rate (%)
600
400
200
2021
2023
2025
2027
2029
2031
2033
2035
2037
2039
2041
2043
■Eurobonds, USD mln
■Gov. Securities Denominated in AMD, USD mln
2045
2047
2049
2051
2053
External Loans, USD min
■Guarantees, USD mln
Source: Ministry of FinanceView entire presentation