As of the first quarter of 2011, Armenia's outstanding foreign debt is pegged at $3.382 billion; a jump of 13.5% over the same period last year.

When we asked Lyova Khachatryan, a member of the Armenian National Assembly's Foreign Affairs Committee, if the burgeoning debt threatened the country's future security, he waved us off and said, "I'm more concerned that all this rain will devastate the crop this year."

"The villagers planted late this year. There was a lot of rain. I see something evil up in the skies. The heavens must let loose with all that accumulated spleen before it can rest easily," noted the MP turned soothsayer.

Khachatryan also seems concerned with the health of livestock; a serious problem for farmers.

For example, he worries that animals leaving the fields might infect one another.

"The bees have been wiped out. What's the reason? Can we guarantee food safety? These are the issues that interest me, not the debt. We should stop taking on debt if it isn't used properly," MP Khachatryan said.

He said that the recent statement made by Prime Minister Sargsyan criticizing the fact that state purchases were being made at double market prices is one indication that something is amiss.

"I want to know who will be paying off all that debt; the people or a few individuals," the MP said.