Our Country's Credit Burden Will Significantly Increase: Suren Parsyan

Economist Suren Parsyan has made a post on his Facebook page, addressing Prime Minister Nikol Pashinyan's announcement about the "Moody's" ratings agency upgrading Armenia's rating.

We present the full post:

"Yesterday, Prime Minister Nikol Pashinyan announced that the international ratings organization ‘Moody's’ has upgraded Armenia's sovereign rating from ‘B1’ to ‘Ba3.’ This is seen as an important event that increases international confidence in Armenia's economy and significantly improves our country's investment attractiveness. Certainly, this is a welcome development, as it reflects a high assessment of our country’s creditworthiness at this moment.

However, the ‘Ba3’ rating is not unprecedented in our country's financial history; it is worth recalling that in 2006, we had a ‘Ba2’ rating, and not long ago, in 2015, we also recorded the same ‘Ba3’ rating (https://countryeconomy.com/ratings/armenia).

The creditworthiness of the country changes rapidly, and it can be confidently predicted that by the end of this year and throughout the next year, our country’s credit burden will significantly increase, which will result in a reassessment of our ‘Moody's’ rating once again."